Nomura Securities Maintains a 'Neutral' on Cash America International (CSH); Preannounces 4Q11: Revs Beat, Expenses Miss
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Price: $25.63 --0%
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Cash America International (NYSE: CSH) price target of $55.00.
Analyst, Bill Carcache, said, "CSH preannounced 4Q11 results after market close on yesterday. 4Q EPS came in at $4.25, versus our estimate of $4.35 and consensus of $4.40. Management guided to a range of $4.28 to $4.48 during its 2Q11 earnings call and has not been able to update its outlook since due to the subsequent Enova S-1 filing with the SEC. Revenue growth accelerated to 25% YoY (from 21% in the prior quarter), well above our estimate of 19% YoY growth. However, elevated expenses more than offset the revenue beat, driven by 1) higher credit losses & reserves, 2) higher store-level opex, 3) lower margins on retail disposition of merchandise, 4) one-time and unusual expenses associated with Enova IPO. We are maintaining our estimates and price target at this time."
For an analyst ratings summary and ratings history on Cash America International click here. For more ratings news on Cash America International click here.
Shares of Cash America International closed at $44.10 yesterday.
Analyst, Bill Carcache, said, "CSH preannounced 4Q11 results after market close on yesterday. 4Q EPS came in at $4.25, versus our estimate of $4.35 and consensus of $4.40. Management guided to a range of $4.28 to $4.48 during its 2Q11 earnings call and has not been able to update its outlook since due to the subsequent Enova S-1 filing with the SEC. Revenue growth accelerated to 25% YoY (from 21% in the prior quarter), well above our estimate of 19% YoY growth. However, elevated expenses more than offset the revenue beat, driven by 1) higher credit losses & reserves, 2) higher store-level opex, 3) lower margins on retail disposition of merchandise, 4) one-time and unusual expenses associated with Enova IPO. We are maintaining our estimates and price target at this time."
For an analyst ratings summary and ratings history on Cash America International click here. For more ratings news on Cash America International click here.
Shares of Cash America International closed at $44.10 yesterday.
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