Nomura Securities Maintains a 'Buy' on TAL International (TAL); Dividend Boost
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Price: $11.65 +0.43%
Rating Summary:
15 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on TAL International (NYSE: TAL) price target of $46.00.
Analyst, Bill Carcache, said, "TAL reported 1Q12 adjusted EPS of $0.92, relative to our estimate of $1.02 and consensus of $0.95. Leasing revenues were roughly in line, and the miss relative to our estimates was driven by higher-than-expected depreciation expense (related to higher capex levels). We think the real story this quarter is about how the company has stepped up its capex investment spending in response to an improving outlook over the next several months. Management’s commentary suggests that it is seeing a favorable investment environment and is deploying significant capex dollars to drive healthy asset (and relatively strong earnings) growth next year. We’re also pleased to see the company was able to meet its heavy capex obligations while still raising its dividend ~5.5% to $0.58 (from $0.55), ahead of expectations. TAL shares currently offer an attractive 5.6% dividend yield (based on Friday’s close).
For an analyst ratings summary and ratings history on TAL International click here. For more ratings news on TAL International click here.
Shares of TAL International closed at $41.33 yesterday.
Analyst, Bill Carcache, said, "TAL reported 1Q12 adjusted EPS of $0.92, relative to our estimate of $1.02 and consensus of $0.95. Leasing revenues were roughly in line, and the miss relative to our estimates was driven by higher-than-expected depreciation expense (related to higher capex levels). We think the real story this quarter is about how the company has stepped up its capex investment spending in response to an improving outlook over the next several months. Management’s commentary suggests that it is seeing a favorable investment environment and is deploying significant capex dollars to drive healthy asset (and relatively strong earnings) growth next year. We’re also pleased to see the company was able to meet its heavy capex obligations while still raising its dividend ~5.5% to $0.58 (from $0.55), ahead of expectations. TAL shares currently offer an attractive 5.6% dividend yield (based on Friday’s close).
For an analyst ratings summary and ratings history on TAL International click here. For more ratings news on TAL International click here.
Shares of TAL International closed at $41.33 yesterday.
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