Benchmark Maintains a 'Hold' on Blue Nile (NILE); Raising PT and FY12 Revenues
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Price: $0.12 --0%
Rating Summary:
2 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
2 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Benchmark maintains a 'Hold' on Blue Nile (NASDAQ: NILE) price target raised from $28 to $32.
Analyst, Daniel L. Kurnos, said, "Blue Nile reported predominantly in-line 1Q12 results, with net revenue growth of 4% y/y slightly exceeding consensus at 3%, but EBITDA of $2.3 million coming in just shy of the street at $2.5 million on lower gross margins...management reiterated FY12 revenue guidance of $384-$417 million, ahead of consensus at $388 million, and more importantly, EPS guidance $0.70-$0.85, implying a significant acceleration in operating leverage in 2H12. While we think management has a lot of work to do to achieve year-end revenue goals, we view the potential for 4Q margin growth despite ongoing investment and aggressive pricing as a positive development."
Kurnos raises FY12 revs from $393 mln to $397 mln...EPS estimate remains $0.75.
For an analyst ratings summary and ratings history on Blue Nile click here. For more ratings news on Blue Nile click here.
Shares of Blue Nile closed at $27.28 yesterday.
Analyst, Daniel L. Kurnos, said, "Blue Nile reported predominantly in-line 1Q12 results, with net revenue growth of 4% y/y slightly exceeding consensus at 3%, but EBITDA of $2.3 million coming in just shy of the street at $2.5 million on lower gross margins...management reiterated FY12 revenue guidance of $384-$417 million, ahead of consensus at $388 million, and more importantly, EPS guidance $0.70-$0.85, implying a significant acceleration in operating leverage in 2H12. While we think management has a lot of work to do to achieve year-end revenue goals, we view the potential for 4Q margin growth despite ongoing investment and aggressive pricing as a positive development."
Kurnos raises FY12 revs from $393 mln to $397 mln...EPS estimate remains $0.75.
For an analyst ratings summary and ratings history on Blue Nile click here. For more ratings news on Blue Nile click here.
Shares of Blue Nile closed at $27.28 yesterday.
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