Analysts’ Updated EPS Estimates for August, 7th (ABMD, AME, BRG, BSTG, CNO, ENR, FEYE, HTGC, NRR, NSP)
ABIOMED (NASDAQ:ABMD) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Over the last one month, Abiomed has been trading above the broader Medical Instruments industry. Management expects that robust demand for the Impella product line will continue to drive Abiomed’s top line. The company’s expanding product portfolio will improve penetration into both the prophylactic high-risk PCI and cardiogenic shock patient market. This is evident from the fact that both Impella 2.5 and CP continue to add centers in the U.S. The company also announced the successful launch of the Abiomed Impella Quality Program in fiscal 2017 to improve clinical outcomes. Also, cost-savings efforts remain encouraging. Furthermore, a rising estimate revision trend for the current year indicates a pocket of opportunity for the stock. However, intensifying competition in the niche markets is likely to mar prospects over the long haul.”
AMTEK (NYSE:AME) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $72.00 price target on the stock. According to Zacks, “AMETEK is a leading manufacturer of electronic appliances and electromechanical devices. The company posted better-than-expected second-quarter 2017 results surpassing the Zacks Consensus Estimate on earnings and revenues. AMETEK continues to reap the benefits from the execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions. This, in combination with a strong portfolio of differentiated businesses, is expected to help the company post better results, going forward. However, weakness in its balance sheet and integration issues and an overly high goodwill associated with an aggressive acquisition strategy are concerns. Foreign exchange headwinds remain. Notably, over the last one year, the stock has underperformed the Zacks Electronic Test Equipment industry.”
Bluerock Residential Growth REIT (AMEX:BRG) was downgraded by analysts at Compass Point from a buy rating to a neutral rating.
Biostage (NASDAQ:BSTG) had its hold rating reaffirmed by analysts at Maxim Group.
CNO Financial Group (NYSE:CNO) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $26.00 price target on the stock. According to Zacks, “CNO Financial's shares have outperformed the industry in last one year. The company’s investments in technological innovations impress. In addition, it is strategizing to reduce long-term care exposure via run-off of existing non-performing businesses and increasing focus on growth of other potential business lines. Strong capital management supports its long-term growth. The company’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate and grew year over year on higher revenues. However, its low market share in some product lines poses risk of limiting business opportunities going forward. Also, suspension of its share buyback plan might have affected its bottom line. Its margin is heavily affected by its high level of debt that increases the borrowing cost.”
Energizer Holdings (NYSE:ENR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Energizer reported third-quarter fiscal 2017 results wherein adjusted earnings beat the Zacks Consensus Estimate but revenues missed the consensus mark. However, on a year over year basis, revenues grew 3% year over year driven by the acquisition of auto care business. Energizer is one of the leading names in the global batteries and lighting products business. The company’s battery business generates over 90% of the revenues. Acquisition of HandStands diversified its portfolio by including brands like Refresh Your Car!, California Scents and Eagle One. Acquisition and strong product portfolio will continue to drive top line. Energizer also has a strong shareholder returns plan in place, which is an added positive. However, battery business faces threat as these days devices come equipped with in-built batteries. Moreover, stiff competition and unfavorable forex fluctuations are added concerns. Shares have underperformed the broader market.”
FireEye (NASDAQ:FEYE) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $16.00 price target on the stock. According to Zacks, “FireEye is a specialized provider of a security platform against cyber-attacks to enterprises and governments. FireEye’s management has been striving to turn around the business through a string of initiatives, which includes product launches, acquisition and cost optimization. We consider that FireEye’s turnaround strategies are paying off as reflected from its back-to-back two quarters of splendid results, and solid outlook for the third quarter and full year. Additionally, although a shift from product-based to subscription-based business model will have a negative impact on FireEye’s near-term results, we believe that it will lead to more stable revenues over the long run.Going ahead, a healthy security market, strong product line-up, deal wins and investment plans should act as a tailwind. Nonetheless, negative operating cash flow remains a major headwind for FireEye, which may hinder the execution of its growth plans.”
Hercules Capital (NYSE:HTGC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Hercules Capital’s shares have significantly underperformed the industry, in the last six months. The company’s second-quarter 2017 earnings were in line with the Zacks Consensus Estimate as rise in total investment income was offset by higher costs. Increase in expenses, largely due to the company’s efforts to improve originations, is expected to hurt bottom-line growth in the near term. While it is likely to witness growing demand for customized financing, based on the market optimism for public equities and an improving economic environment, high concentration risk makes us apprehensive.”
Newriver Reit PLC (LON:NRR) had its buy rating reiterated by analysts at Peel Hunt. The firm currently has a GBX 365 ($4.75) target price on the stock.
Insperity (NYSE:NSP) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $94.00 price target on the stock. According to Zacks, “Insperity reported strong second quarter 2017 results wherein both earnings and revenues exceeded expectations. On a year over year basis, revenues registered strong growth driven by increase in the average number of paid worksite employees. Management has raised guidance for the year due to elimination of double taxation (FICA and FUTA) under the Small Business Efficiency Act. Cost savings also remain on track. However, these benefits will be offset to an extent by loss of large mid-market client. We believe Insperity is well placed to benefit from the booming PEO industry over the long run. Improved client retention, diversified product portfolio, growth in worksite employees and strength in its ancillary products are the other positives. However, sluggish global macro environment is hindering growth. Also, any further increase in health care costs can mar its profitability to a great extent.”
NxStage Medical (NASDAQ:NXTM) had its hold rating reissued by analysts at Northland Securities. They currently have a $30.00 price target on the stock. The analysts wrote, “We continue to move our PD program forward at an impressive pace…We continue to firmly believe that by keeping our regulatory timelines and pathway confidential, we’re protecting a significant value opportunity. Let me be clear, we both have the opportunity to do great things for patients, bringing new technology to the market that makes PD easier and better.””
Restaurant Brands International (NYSE:QSR) (TSE:QSR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Restaurant Brands’ second-quarter 2017 adjusted earnings of $0.51 per share beat the Zacks Consensus Estimate by 13.3% and rose 24.4% year over year. Revenues of $1.13 billion increased nearly 9% year over year but fell just short of the consensus mark. Notably, this marked the 10th consecutive quarterly earnings beat for the company. Meanwhile, though comps rose at Burger King, the same fell at Tim Hortons and Popeyes. Going into the second half, the company aims to maintain the momentum at Burger King, while improving comps growth at Tim Hortons and Popeyes via various sales-boosting initiatives. Additionally, it plans to continue focusing on expansion, guest satisfaction and franchisee profitability to drive long-term growth. Notably, Restaurant Brands’ shares outpaced the industry in the last six months. Yet, rising costs along with currency woes may dent profits, while a soft consumer spending environment might hurt comps.”
Rayonier (NYSE:RYN) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Rayonier reported better-than-expected pro forma net income per share for second-quarter 2017. In addition, pro forma revenue for the quarter surpassed the Zacks Consensus Estimate. The company revised its 2017 guidance upward. Encouragingly, over the past seven days, its 2017 earnings estimates moved up. Also, shares of Rayonier outperformed its industry over the last three months. The company’s portfolio of timberlands enjoys geographical diversity. Moreover, it is likely to benefit from the recent developments in biogenetics & cloning that help in fast growth of trees. However, Rayonier’s performance in the upcoming period is likely to bear the brunt of stiff competition from national and local players. Also, foreign exchange fluctuations, tough compliance requirements and seasonality of the forest products industry add to its woes.”
Shopify (NYSE:SHOP) (TSE:SH) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shopify's second-quarter 2017 results were impressive. The company's year-over-year revenue growth showed that Shopify’s cloud-based, multi-tenant, omni-channel, scalable platform is gaining adoption. The company continues to win new merchants, which surpassed 0.5 million at the end of quarter. The company is benefiting from retail’s rapid transition to mobile and social sales channels. Moreover, availability of Apple Pay and addition of eBay, Amazon and Facebook Messenger as sales channels are significant positives. Shopify has outperformed the broader industry on a year-to-date basis. However, the company’s increasing investments on product development, infrastructure and platform will continue to hurt profitability at least in 2017. We observe that the company is yet to report profit, which doesn’t augur well for investors.”
Square (NYSE:SQ) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Square provides payments and point-of-sale (POS) services. The company's adjusted loss in the second quarter of 2017 was in line with the Zacks Consensus Estimate, while revenues surpassed the same. Year to date, the stock has outperformed the Zacks Internet-Software industry. Square’s comprehensive commerce ecosystem, accelerated business growth and focus on integration, automation, and platform are positives. However, it’s currently a loss making business and vulnerability to intense competition and changing technology, industry standards and seller and buyer needs pose challenges.”
Tech Data Corporation (NASDAQ:TECD) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Tech Data distributes IT products, logistics management and other value-added services. Increasing demand for data center systems, cloud and mobility products are positives for Tech Data. Moreover, the acquisition of Technology Solutions unit from Avnet has opened up new growth opportunities. Apart from strengthening its distribution capabilities in Europe and the Americas, the buyout has also introduced a new market, i.e. Asia-Pacific region. Nevertheless, rising DRAM and NAND chips prices will eventually increase the prices of PCs, which may result in further decline in overall PC shipments. This makes us cautious over the stock’s near-term performance as these products contribute to majority of revenues. Moreover, a sluggish IT spending environment, uncertain macroeconomic condition and intense competition remain headwinds. Estimates have remained stable ahead of the upcoming earnings release.”
Trimble Navigation (NASDAQ:TRMB) was upgraded by analysts at Zacks Investment Research from a hold rating to a strong-buy rating. The firm currently has $43.00 price target on the stock. According to Zacks, “Trimble is an OEM of GPS-based products and control systems. The company reported strong second-quarter 2017 results with both the top and the bottom line surpassing the Zacks Consensus Estimate.The company’s initiatives toward lowering the cost structure to another framework and making strategic acquisitions, along with the increased adoption of technology in the agricultural market, product enhancements and international expansion should also see it through the current market environment. Nonetheless, exchange rates and deferred revenue accounting effects. Over the past one year, the stock has outperformed the Zacks characterized Electronic Products Miscellaneous industry.”
Twitter (NYSE:TWTR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Twitter reported second quarter 2017 results wherein adjusted loss came in narrower than expected while revenues beat the Zacks Consensus Estimate. Moreover, costs are coming down considerably while adjusted EBITDA was way above the forecasted range in the second quarter. To boost user growth rate and engagement levels, Twitter remains focused on “live” and betting big on Periscope. It is now exploring beyond just news and the series of live streaming deals are a step in that direction. Though monthly average users were up 5% year over year, it was unchanged from the last quarter at 328 million users. Stiff competition for ad dollars continues to be a major concern. Shares have underperformed the broader market in the past one year.”
U and I Group PLC (LON:UAI) had its buy rating reaffirmed by analysts at Peel Hunt. Peel Hunt currently has a GBX 230 ($3.00) target price on the stock.
Whole Foods Market (NASDAQ:WFM) was downgraded by analysts at Tigress Financial from a buy rating to a neutral rating.
Wynn Resorts, Limited (NASDAQ:WYNN) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Wynn Resorts’ second-quarter earnings of $1.18 per share beat the Zacks Consensus Estimate by 8.3% and were up 10.3% year over year on higher revenues. Revenues of $1.53 billion beat the consensus mark by 5.3% and grew 44.5% year over year. Notably, the company failed to fully capitalize on the rebound in Macau gaming revenues in the quarter, given somewhat lower-than-expected results at Wynn Palace. Though foot traffic has been low at Wynn Palace of late, it is poised to witness increased visits from tourists and leisure gamblers over the long term. Meanwhile, Wynn Resorts’ shares outpaced the industry in the past six months. Further, the company’s strong brand recognition, higher non-gaming revenues along with an improving economy and growing tourism in Las Vegas should drive the top line. Yet, fears of another corruption crackdown by the authorities and high debt burden raises concern.”
Zynerba Pharmaceuticals (NASDAQ:ZYNE) had its hold rating reissued by analysts at Maxim Group.
Receive News & Ratings for ABIOMED Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED Inc and related companies with MarketBeat.com's FREE daily email newsletter.