Earnings Preview: Raven Industries - Analyst Blog
2012年5月17日 - 10:00PM
Zacks
Raven Industries
Inc. (RAVN) is slated to report its first-quarter fiscal
2013 results before the market opens on May 18. The Zacks Consensus
Estimate for earnings for the quarter is 89 cents per share,
representing an estimated year-over-year increase of 3.49%.
Revenues, as per the Zacks Consensus Estimate, are $112
million.
Fourth Quarter
Synopsis
The company, in the fourth quarter
(ended January 31, 2012), reported adjusted earnings of 60 cents
per share, beating the Zacks Consensus Estimate of 48 cents and
exceeding the year-ago earnings of 41 cents.
Revenues in the reported quarter
increased 36% year over year to $96.3 million, comfortably
surpassing the Zacks Consensus Estimate of $78 million.
Raven, which competes with
companies like Graco Inc. (GGG), Spartech
Corp. (SEH) and privately held Sigma Plastics Group,
experienced healthy growth in its top line due to double-digit
sales expansion across all the segments.
Estimate Revision
Trend
Agreement
Estimate for the first quarter
reflect absolute lack of activity with no movement in either
direction over the last 7 and 30 days. A similar trend applies for
fiscal 2013.
Magnitude
The Zacks Consensus Estimates
remained the same for both the first quarter and fiscal 2013 over
the last 7 and 30 days.
Earnings Surprise
History
With respect to earnings surprise,
Raven has topped the Zacks Consensus Estimate in three of the last
four quarters while it met the forecast in one occasion. The
company delivered an average positive earnings surprise of 24.85%
over the preceding four quarters, implying that it has beaten the
Zacks Consensus Estimate by that measure.
Our Take
Raven has realigned its business
segments in line with its long-term growth strategy. It has
deployed the assets and team members of the Electronic Systems
segment to the Aerostar and Applied Technology segment. The company
will now operate through three business segments. Raven has planned
to incorporate nearly 75% of the sales of the Electronic System
segment into the Aerostar segment.
Recently, Raven has increased its
quarterly dividend by 17% to 21 cents per share, marking the
26th consecutive year of dividend increase.
However, the volatile resin prices
may weigh on the results of the company. Moreover, the order
backlog in the Aerostar division is minimal for aerostats and
surveillance systems. Therefore, the division’s sales are expected
to decline in the first quarter on an year-over-year basis.
Our long-term Outperform
recommendation on Raven is in agreement with a short-term Zacks #3
Rank (Hold).
GRACO INC (GGG): Free Stock Analysis Report
RAVEN INDS INC (RAVN): Free Stock Analysis Report
SPARTECH CORP (SEH): Free Stock Analysis Report
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