Jefferies Group Reiterates “Buy” Rating for Amira Nature Foods Ltd (ANFI)
Amira Nature Foods Ltd (NYSE:ANFI)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Tuesday, AR Network reports. They currently have a $14.00 price target on the stock, up from their previous price target of $13.00. Jefferies Group’s price objective would suggest a potential upside of 58.91% from the stock’s previous close.
The analysts wrote, “ANFI delivered another quarter of strong top and bottom line growth with the outlook for more to come. Despite a weakening Indian Rupee, which impacts about 40% of ANFI’s rev., the co. maintained its FY14 guidance as the FX impact was offset by a stronger underlying performance. The co. continues to expect to lower the interest rate on its debt by roughly 400bps towards the end of CY13 which would have a roughly $0.15 positive EPS impact.”
Shares of Amira Nature Foods Ltd (NYSE:ANFI) traded up 3.86% during mid-day trading on Tuesday, hitting $9.15. The stock had a trading volume of 92,890 shares. Amira Nature Foods Ltd has a 52 week low of $6.25 and a 52 week high of $9.80. The stock’s 50-day moving average is $8.17 and its 200-day moving average is $7.9. The company has a market cap of $326.4 million and a price-to-earnings ratio of 13.92.
Amira Nature Foods Ltd (NYSE:ANFI) last posted its quarterly earnings results on Monday, August 26th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.11. The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $98.84 million. On average, analysts predict that Amira Nature Foods Ltd will post $0.87 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ANFI. Analysts at Thomson Reuters/Verus initiated coverage on shares of Amira Nature Foods Ltd in a research note to investors on Monday, August 5th. They set a “buy” rating on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Amira Nature Foods Ltd in a research note to investors on Monday, June 3rd.
Five research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $12.67.
Amira Nature Foods Ltd. is a provider of packaged Indian specialty rice, with sales in over 40 countries.
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