Jesup & Lamont Downgrades BE Aerospace (BEAV) to Hold; Lowers Estimates

April 28, 2009 8:40 AM EDT

Jesup & Lamont downgrades BE Aerospace (Nasdaq: BEAV) from Buy to Hold.

Jesup analyst says, "Management adjusted guidance and expects EPS of about $1.50 ($2.00 prior) on revenue of about $1.9 billion ($2.25 billion prior). In addition, management does not expect 2009E EPS to exceed the level achieved in 1Q09. Prior, management had expected sequential improvements throughout the year. Given the cut to guidance and grim outlook provided by management we believe it odd that management believes they can maintain or slightly expand operating margins in 2009E. That being said, we have included this in our model. As a result of management's guidance we have adjusted our numbers accordingly. For 2009E we now forecast EPS of $1.49 (prior $1.69) on revenue of $1.95 billion (prior $2.24 billion). For 2010E we now forecast EPS of $1.59 (prior $1.95) on revenue of $1.95 billion (prior $2.48 billion)."

BE Aerospace, Inc. is manufacturer of cabin interior products for commercial aircraft and business jets and the world’s distributor of aerospace fasteners and consumables.

Related Categories

Downgrades

Stocks Mentioned

Related Entities

• Jesup & Lamont

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?