SunTrust Downgrades Herbalife (HLF) to Neutral
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Go back to SunTrust Downgrades Herbalife (HLF) to Neutral
November 4, 2014 10:34 AM EST
Pivotal Research maintained a Buy rating on Herbalife (NYSE: HLF) and lowered its price target to $75.00 (from $110.00). The change follows Q3 results. Analyst Timothy S. Ramey called it a "messy quarter."
"The company took a $0.97 per share hit to its Venezuelan operation adopting SAICAD-II as we expected, but it did not restate prior periods. If the 50:1 exchange rate had been in effect in the 1Q it would have been $0.18 to EPS, $0.14 in the 2Q and it was a $0.13 drag on... More
November 3, 2014 4:41 PM EST
Herbalife (NYSE: HLF) reported Q3 EPS of $1.45, $0.06 worse than the analyst estimate of $1.51. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.32 billion.
Michael Johnson, chairman and CEO stated, In the quarter we saw volume increases in two-thirds of our 91 countries, especially Russia and China. Excluding the impact of currency translation in Venezuela, the company had solid increases in both volume and net sales. We continue to implement initiatives that we believe will further strengthen our foundation and drive... More
