Equities Research Analysts’ updated eps estimates for Friday, August 11th:
AllianceBernstein Holding L.P. (NYSE:AB) had its neutral rating reissued by analysts at Credit Suisse Group. They currently have a $2.00 price target on the stock.
AEterna Zentaris (NASDAQ:AEZS) (TSE:AEZ) was given a $4.00 price target by analysts at Maxim Group. The firm currently has a buy rating on the stock.
Aareal Bank AG (ETR:ARL) had its buy rating reaffirmed by analysts at DZ Bank AG.
Goldman Sachs Group, Inc. (The) assumed coverage on shares of British American Tobacco p.l.c. (NYSE:BTI). Goldman Sachs Group, Inc. (The) issued a neutral rating on the stock.
British American Tobacco PLC (NYSEMKT:BTI) had its neutral rating reiterated by analysts at Goldman Sachs Group, Inc. (The).
Capital Southwest Corporation (NASDAQ:CSWC) had its buy rating reissued by analysts at National Securities. The firm currently has a $22.00 price target on the stock. The analysts wrote, “• CSWC reported core NII/share of $0.22 for fiscal 1Q18, a penny ahead of our own estimate. The portfolio at fair value increased by 7% Q/Q to $306.6 million on the back of good origination volume of $41.7 million, down modestly from the quarter prior. CSWC originated five loans during the quarter, with two upper middle market (UMM) loans and three lower middle market (LMM) loans. We continue to expect this strategy of using the both UMM loans with lower yields and the LMM to improve deal flow, mitigate risk in the portfolio, and drive a high blended effective yield.
• The company finished 6/30/17 with D/E of 0.09x with only $25.0 million drawn on the $100.0 million revolver. We expect the company will continue to draw on its revolver (which we expect to be upsized by $100.0 million in the quarter ended 6/30/18). CSWC should be able to attain a portfolio fair value of $465.6 million in 9/30/18 with D/E of 0.54x before we model a $75.0 million gross accretive equity issuance.
• As a result of the increased portfolio growth and NII ROAE (return on average equity) we model the quarterly dividend to be increased to $0.24/share (from $0.21/share currently) in fiscal 3Q18 and then to $0.26/share in fiscal 4Q18. By the end of fiscal 2019, we model the quarterly dividend to be $0.31/share and expect core NII payout ratios of under 90% in both fiscal 2018 and fiscal 2019.
• We are revising our fiscal 2018 core NII/share estimate to $1.07 from $0.92 and our fiscal 2019 core NII/share estimate to $1.33 from $1.18.”
Estee Lauder Companies, Inc. (The) (NYSE:EL) had its buy rating reissued by analysts at Wells Fargo & Company. They currently have a $112.00 target price on the stock.
Esperion Therapeutics (NASDAQ:ESPR) had its neutral rating reissued by analysts at Bank of America Corporation.
Envision Healthcare Corporation (NYSE:EVHC) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Envision Healthcare’s second-quarter earnings beat estimates but declined year over year due to a significant rise in operating expenses. Its differentiated leadership position in each its clinical network solutions provides a pathway to growth in approximately 3,200 hospitals and health systems where it has no presence. Substantial acquisition activity expected to continue in 2017 will aid perfoemance in the Physician service segment. Nevertheless, the company suffers from high indebtedness, which has consequently led to an increase in interest ratio. Also, its operating expense is on the rise and is exceeding revenue growth, which has exerted pressure on operating margins. The company’s shares have underperformed the industry, year to date. The company has also trimmed its 2017 earnings guidance twice so far this year which is worrying.”
Expeditors International of Washington (NASDAQ:EXPD) had its hold rating reiterated by analysts at Stifel Nicolaus. Stifel Nicolaus currently has a $52.00 target price on the stock, down from their previous target price of $54.00.
Hospitality Properties Trust (NASDAQ:HPT) had its buy rating reaffirmed by analysts at Stifel Nicolaus. The firm currently has a $33.00 price target on the stock, down from their previous price target of $33.50.
Horizon Pharma PLC (NASDAQ:HZNP) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Horizon’s second-quarter results were impressive with the company beating on both the top and bottom line estimates. Moreover, the increase in sales guidance for 2017 was encouraging as well. However, revenues from primary care business units declined due to the implementation of a new commercial model where the company is contracting with pharmacy benefit managers and payers to help patients obtain access to its medicines. Moreover, in Jun 2017, Horizon Pharma sold the marketing rights for Procysbi and Quinsair in the Europe, the Middle East and Africa regions to Chiesi Farmaceutici S.p.A. as the company focuses on higher-return businesses. Shares of the company have underperformed the industry. With the company’s efforts to expand Actimmune’s label suffered a setback, focus will be on Krystexxa’s performance. Stiff competition for drugs will also impact sales.”
John Wiley & Sons (NYSE:JW.A) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “John Wiley & Sons, which has outpaced the industry in the past three months, is metamorphosing to a more digital services oriented company. Revenues from digital sources increased to 68% in fiscal 2017 from 63% in fiscal 2016. It has resorted to aggressive restructuring to boost margins and has laid emphasis on developing IT infrastructure. Moreover, it is focusing on building a more favorable product mix as digital services/ products generate higher margins and are likely to offset the waning print revenue. These efforts aided it to post third straight quarter of earnings beat and register year-over-year growth, when it reported fourth-quarter fiscal 2017 results. Top line also beat the estimate after missing the same in the preceding quarter. In fiscal 2018, management envisions adjusted earnings at constant currency to decline by low-single digits. Both revenues and operating income is expected to be nearly flat year over year.”
Kingstone Companies (NASDAQ:KINS) had its buy rating reiterated by analysts at Boenning Scattergood.
Kohl’s Corporation (NYSE:KSS) had its market perform rating reissued by analysts at Cowen and Company. They currently have a $42.00 price target on the stock, down from their previous price target of $43.00.
Kohl’s Corporation (NYSE:KSS) had its buy rating reaffirmed by analysts at Jefferies Group LLC. The firm currently has a $50.00 price target on the stock, up from their previous price target of $48.00.
Liontrust Asset Management PLC (LON:LIO) had its buy rating reissued by analysts at N+1 Singer. N+1 Singer currently has a GBX 510 ($6.64) target price on the stock.
Everspin Tech (NASDAQ:MRAM) had its buy rating reaffirmed by analysts at Stifel Nicolaus. Stifel Nicolaus currently has a $18.00 price target on the stock, down from their previous price target of $19.00.
Neonode (NASDAQ:NEON) had its outperform rating reaffirmed by analysts at Cowen and Company. Cowen and Company currently has a $3.00 target price on the stock, down from their previous target price of $4.00.
Navios Maritime Acquisition Corporation (NYSE:NNA) had its buy rating reaffirmed by analysts at Stifel Nicolaus. Stifel Nicolaus currently has a $2.25 price target on the stock, up from their previous price target of $2.00.
NVIDIA Corporation (NASDAQ:NVDA) had its outperform rating reissued by analysts at Sanford C. Bernstein. They currently have a $165.00 price target on the stock.
Pacira Pharmaceuticals (NASDAQ:PCRX) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Pacira incurred wider-than-expected loss in second-quarter 2017 and revenues missed estimates. the company efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The company also remains optimistic of its partnership with J&J to market and promote the use of Exparel, with their sales and medical education teams. Going forwad, Pacira is looking to expand Exparel's label in the animal health market as well. Shares of the company have outperformed the industry year to date. However, Pacira’s dependence on its key marketed drug, Exparel, for top-line growth is concerning. A decline in Exparel sales will adversely impact the company's top line.The company also discontinued the production of DepoCyt(e) due to persistent technical issues specific to DepoCyt.”
Prudential plc (LON:PRU) had its buy rating reissued by analysts at Shore Capital.
Asante Solutions (NASDAQ:PUMP) was given a $15.00 price target by analysts at Credit Suisse Group. The firm currently has a buy rating on the stock.
Pretium Resources (NYSE:PVG) (TSE:PVG) was given a $13.00 target price by analysts at Credit Suisse Group. The firm currently has a buy rating on the stock.
Snap (NYSE:SNAP) had its hold rating reaffirmed by analysts at Wells Fargo & Company.
Travis Perkins plc (LON:TPK) had its hold rating reissued by analysts at Shore Capital.
TripAdvisor (NASDAQ:TRIP) had its market perform rating reiterated by analysts at Cowen and Company. The firm currently has a $42.00 target price on the stock, up from their previous target price of $40.00.
Under Armour (NYSE:UAA) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Under Armour’s better-than-expected results in second-quarter 2017 failed to cushion the stock, which has witnessed a sharp decline in the past one year and underperformed the industry by a wide range. Investors’ sentiments were further dampened by the company’s conservative sales guidance for the full year. The company now expects net revenue for 2017 to rise in the range of 9–11%, down from the prior estimate of an increase of 11–12% over the 2016 level primarily due to moderation in North American business. Further, it anticipates adjusted gross margin to decline by a minimum of 120 basis points in 2017 due to foreign currency headwinds, restructuring plan and efforts toward managing inventory. Nevertheless, the company’s sustained focus on brand development, expansion of direct-to-consumer and technology-based fitness business bode well.”
Weibo Corporation (NASDAQ:WB) had its buy rating reissued by analysts at Instinet. They currently have a $102.00 price target on the stock, up from their previous price target of $91.00.
WellCare Health Plans (NYSE:WCG) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $193.00 price target on the stock. According to Zacks, “In the last one year, Wellcare Health’s shares have outperformed the industry. The company’s strong robust inorganic growth is impressive. Its second-quarter 2017 earnings surpassed the Zacks Consensus Estimate and also grew year over year on higher revenues. The recent acquisition of Care1st Arizona is expected to further help it in growing faster. Its healthy balance sheet continues to support its operational and financial excellence. It has also been witnessing revenue growth over the last six years. The Zacks Consensus Estimate for both 2017 and 2018 has been significantly revised upward in the last seven days. However, the company faces intense competition and stringent regulation because of its geographically diverse operations. Rising level of expenses and mounting level of debt also hurt the bottom line.”
Zurich Insurance Group AG (OTCMKTS:ZURVY) had its buy rating reissued by analysts at DZ Bank AG.
