Civitas Solutions (CIVI) Posts Surprise Q1 Loss

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Go back to Civitas Solutions (CIVI) Posts Surprise Q1 Loss

UBS Remains Bullish as Civitas Solutions (CIVI) Reaffirms Full Year Guidance

February 10, 2016 10:09 AM EST

UBS maintained a Buy rating on Civitas Solutions (NYSE: CIVI), and cut the price target to $28.00 (from $29.50), following the company's 1Q earnings report. CIVI posted adjusted EBITDA down to $36.3 mln, which was $1.8 mln below consensus' estimates. Adjusted EPS was $0.16, which compares to UBS' estimate of $0.20. CIVI kept full year guidance unchanged.

Analyst A.J. Rice commented, "CIVI posted F1Q16 adj EBITDA down 10.4% Y/Y to $36.3 mln,... More