Oppenheimer Maintains a 'Perform' on Lender Processing Services (LPS); Transaction Services Upside
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Price: $37.30 --0%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains a 'Perform' on Lender Processing Services (NYSE: LPS).
Analyst, Glenn Greene, said, "LPS reported strong 2Q12 results with revenue/EPS exceeding our/Street's estimates and guidance, excluding one-time charge to increase legal/regulatory reserve. 3Q12 revenue guidance is in line with expectations while the EPS range is well above our/Street's prior estimate. Unexpectedly, LPS increased its legal and regulatory reserve by $144M to $203M. Transaction Services (TS) revenue rose 5% Y/Y and beat our expectations by $15M. Perhaps more significant was the uptick in TS margins, up 570bps Y/Y (610 bps > our estimate). Encouragingly, the increased margins appear directionally sustainable going forward, given the in-line 3Q revenue outlook but upside EPS expectations; we await management commentary for further details."
For an analyst ratings summary and ratings history on Lender Processing Services click here. For more ratings news on Lender Processing Services click here.
Shares of Lender Processing Services closed at $24.75 yesterday.
Analyst, Glenn Greene, said, "LPS reported strong 2Q12 results with revenue/EPS exceeding our/Street's estimates and guidance, excluding one-time charge to increase legal/regulatory reserve. 3Q12 revenue guidance is in line with expectations while the EPS range is well above our/Street's prior estimate. Unexpectedly, LPS increased its legal and regulatory reserve by $144M to $203M. Transaction Services (TS) revenue rose 5% Y/Y and beat our expectations by $15M. Perhaps more significant was the uptick in TS margins, up 570bps Y/Y (610 bps > our estimate). Encouragingly, the increased margins appear directionally sustainable going forward, given the in-line 3Q revenue outlook but upside EPS expectations; we await management commentary for further details."
For an analyst ratings summary and ratings history on Lender Processing Services click here. For more ratings news on Lender Processing Services click here.
Shares of Lender Processing Services closed at $24.75 yesterday.
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