Barclays Adjusting Numbers on Memorial Production Partners (MEMP); Expect Strong Coverage Ratios
Tweet Send to a FriendGet Alerts MEMP Hot Sheet
Price: $19.74 -0.7%
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade MEMP Now!
Barclays maintains an 'Equalweight' on Memorial Production Partners (NASDAQ: MEMP) price target of $21.00.
Analyst, Jeffrey W. Robertson, said, "We are revising our FY12 EBITDA and DCF per unit estimates to $3.15 and $2.40 from $3.00 and $2.30, respectively. We are revising our FY13 EBITDA and DCF per unit estimates to $3.40 and $2.55 from $3.25 and $2.45, respectively. We are revising our FY14 EBITDA and DCF per unit estimates to $3.15 and $2.35 from $3.05 and $2.30, respectively." (FY13 EPS estimate lowered from $2.00 to $1.35)
"We expect MEMP to maintain strong coverage ratios through the remainder of this year and next, which could support steady distribution growth, in our view."
Other tidbits include: 1) mgmt raising FY12 production guidance; 2) $199 million available in credit facility (as of Aug 1) meaning sufficient liquidity; and 3) Q2 distribution ($0.48 per share) unchanged)
For an analyst ratings summary and ratings history on Memorial Production Partners click here. For more ratings news on Memorial Production Partners click here.
Shares of Memorial Production Partners closed at $17.39 yesterday, with a 52 week range of $15.71-$19.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Jeffrey W. Robertson, said, "We are revising our FY12 EBITDA and DCF per unit estimates to $3.15 and $2.40 from $3.00 and $2.30, respectively. We are revising our FY13 EBITDA and DCF per unit estimates to $3.40 and $2.55 from $3.25 and $2.45, respectively. We are revising our FY14 EBITDA and DCF per unit estimates to $3.15 and $2.35 from $3.05 and $2.30, respectively." (FY13 EPS estimate lowered from $2.00 to $1.35)
"We expect MEMP to maintain strong coverage ratios through the remainder of this year and next, which could support steady distribution growth, in our view."
Other tidbits include: 1) mgmt raising FY12 production guidance; 2) $199 million available in credit facility (as of Aug 1) meaning sufficient liquidity; and 3) Q2 distribution ($0.48 per share) unchanged)
For an analyst ratings summary and ratings history on Memorial Production Partners click here. For more ratings news on Memorial Production Partners click here.
Shares of Memorial Production Partners closed at $17.39 yesterday, with a 52 week range of $15.71-$19.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- UPDATE: Canaccord Genuity Starts T-Mobile US, (TMUS) at Hold
- Amarin (AMRN) NCE Delay Not all Negative - MKM Partners
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
