Nomura Securities Lowers PT and Estimates on Cash America (CSH); Maintains 'Neutral'
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Price: $25.63 --0%
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Nomura Securities maintains a 'Neutral' on Cash America International (NYSE: CSH) price target cut from $55 to $50.
Analyst, Bill Carcache, said, "While there were no surprises given last week’s preannouncement, 4Q11 results were disappointing. The company generated the strongest net revenue growth (+26%) of the year during the fourth quarter, producing record consumer lending fees; however, the growth came at a heavy price, with reserve building driving higher-than-expected credit losses. The company also experienced negative operating leverage, as technology expenses in Mexico and the US absorbed much of the revenue growth. We are lowering our estimates and PT on the back of these results. Our 2012E estimate goes to $4.86 (from $5.16) and our 2013E estimates goes to $5.51 (from $5.84)."
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 $43.58 yesterday.
Analyst, Bill Carcache, said, "While there were no surprises given last week’s preannouncement, 4Q11 results were disappointing. The company generated the strongest net revenue growth (+26%) of the year during the fourth quarter, producing record consumer lending fees; however, the growth came at a heavy price, with reserve building driving higher-than-expected credit losses. The company also experienced negative operating leverage, as technology expenses in Mexico and the US absorbed much of the revenue growth. We are lowering our estimates and PT on the back of these results. Our 2012E estimate goes to $4.86 (from $5.16) and our 2013E estimates goes to $5.51 (from $5.84)."
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 $43.58 yesterday.
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