Nomura Securities Maintains a 'Neutral' on Yahoo! (YHOO); Reducing 2H:12 Display Revenue Growth Estimate
Tweet
Share
E-mailGet Alerts YHOO Hot Sheet
Price: $52.58 --0%
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on Yahoo! (NASDAQ: YHOO) price target of $15.00.
Analyst, Brian Nowak, said, "2Q:12 revenue (ex TAC) of $1,080mn. Lower opex due to both timing and restructuring savings and higher-than-expected buybacks drove adjusted EPS 17% above us. But the larger take-away came from newly appointed CEO Marissa Mayer, who unfortunately wasn’t on the call. Display trends remain weak as display revenue ex-TAC grew 2%. This marks the 5th consecutive quarter YHOO has missed the consensus display revenue estimate. We are therefore reducing our 2H:12 display revenue growth estimate from 12% to 9%. Search grew 5%, but YHOO noted that it and Microsoft (Nasdaq: MSFT) have still not made any material progress in closing the monetization gap between adCenter and Panama over the past 4 quarters .We are adjusting our model post 2Q results and are raising our 2012E EPS by $0.04 to $1.00. This is essentially driven by flowing through the $0.04 2Q beat."
For an analyst ratings summary and ratings history on Yahoo! click here. For more ratings news on Yahoo! click here.
Shares of Yahoo! closed at $15.60 yesterday.
Analyst, Brian Nowak, said, "2Q:12 revenue (ex TAC) of $1,080mn. Lower opex due to both timing and restructuring savings and higher-than-expected buybacks drove adjusted EPS 17% above us. But the larger take-away came from newly appointed CEO Marissa Mayer, who unfortunately wasn’t on the call. Display trends remain weak as display revenue ex-TAC grew 2%. This marks the 5th consecutive quarter YHOO has missed the consensus display revenue estimate. We are therefore reducing our 2H:12 display revenue growth estimate from 12% to 9%. Search grew 5%, but YHOO noted that it and Microsoft (Nasdaq: MSFT) have still not made any material progress in closing the monetization gap between adCenter and Panama over the past 4 quarters .We are adjusting our model post 2Q results and are raising our 2012E EPS by $0.04 to $1.00. This is essentially driven by flowing through the $0.04 2Q beat."
For an analyst ratings summary and ratings history on Yahoo! click here. For more ratings news on Yahoo! click here.
Shares of Yahoo! closed at $15.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
NomuraSign 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!
