Miller Tabak maintain their "hold" rating on BOBE The target price is set to $53. Yell right, cold day in hell before BOBE see's $53. Try $30 to $20
Janney Capital downgraded Bob Evans Farms (NASDAQ: BOBE) from Buy to Neutral with a price target of $48.00 (from $60.00). Neutral is code word for sell! Going to $30
Your kidding right? $470 million in debt, $3.7 million in cash, profit margins of 2% earning a whooping $1.40 & you would buy this pig at $45? Really? See u at $30 soon, then $20.
Piper Jaffray analyst Charles Duncan maintained an Overweight rating on Orexigen Therapeutics (NASDAQ: OREX) and raised his price target to $26.00 (from $16.00) intra-day Tuesday, after the company released an 8-K regarding U.S. patent 8,969,371 ('371) and a series of applications.
Duncan notes that disclosed in the patent and applications are details on the LIGHT study interim at 25% of events. He notes Contrave demonstrated a statistically significant benefit over placebo for CV events, including CV death. Additionally, the patent extends patent protection for Contrave to 2034.
Duncan said the news could turn the obesity/metabolic syndrome market on its head. "We see this CVOT effect as surprisingly positive and it has several implications, in our view for the potential of Contrave," he commented. "These include possibly driving competitive advantage in the US market, and enhancing probability of approvals ex-US. We also see the new patent as “galvanizing” the IP protection behind Contrave and thus ensuring that it is a longlived asset. Finally, in terms of life cycle management efforts in combining the drug in a regimen with anti-diabetic drugs, we see these data as ramping interest in these efforts by the company and its potential collaborators."
The analyst also sees newsflow soon. He said the 50% interim analysis is expected sometime this quarter, based on prior comments from the company.
Poor Returns. When it comes to returns, Bob Evans significantly underperforms its peers. According to our calculations:
•On a ROA basis, Bob Evans makes 1/6th of McDonald's returns, 1/7th of Yum! Brands returns, and 1/7th of Panera Bread's returns.
•On an ROE basis, Bob Evans makes 1/6th of MCD's returns, 1/11th of YUM's returns, and 1/5th of PNRA's returns.
2. Poor margins. Similarly, Bob Evans significantly underperforms its peers in terms of margins. Again, our calculations:
•In terms of operating margin, Bob Evens makes 1/6th of MCD's operating margins, and 1/11th of YUM's, and 1/5th of PNRA's.
•For profit margin, Bob Evans makes 1/10th of MCD's profit margin, 1/6th of YUM's, and 1/4th of PNRA's.
3. Too Expensive. We calculate that:
•On a P/E basis, Bob Evans is more expensive than all the peers we looked at. In fact, on a P/E basis, Bob Evans is 2.8 times more expensive than McDonald's (NYSE:MCD), 2.4x more expensive than Yum! Brands (NYSE:YUM), and 2.1x more expensive than Panera Bread (NASDAQ:PNRA), according to our own calculations.
•On an EV/EBIT basis, Bob Evans is 6.4 times more expensive than McDonald's, 5x more expensive than Yum! Brands, and 4.8x more expensive than Panera Bread.
Let's combine these points together. Considering that Bob Evans offers investors much lower profitability and seriously inferior margins to its much cheaper peers, we don't believe this premium to be justified.
Bob Evans Farms (NASDAQ: BOBE) reported Q3 EPS of $0.60, $0.10 worse than the analyst estimate of $0.70. Revenue for the quarter came in at $367.2 million versus the consensus estimate of $358.83 million.
Bob Evans Farms sees FY2015 EPS of $1.40-$1.60, versus the consensus of $1.97.
No business separation for Bob Evans Farms
Bob Evans Farms (NASDAQ:BOBE) announces it will not pursue a sale or spinoff of its BEF Foods segment.
The company reported FQ3 earnings after the bell with the restaurant business showing a 3.8% comp for the quarter.
The comp was 5.2% in January
KeyBanc downgraded Bob Evans Farms (NASDAQ: BOBE) from Hold to Underweight with a price target of $45.00.
Analyst Christopher O'Cull said, "We are downgrading Bob Evans Farms, Inc. to UNDERWEIGHT from HOLD based on the following concerns: 1) BER’s SRS remain weak because the Company is not addressing dine-in traffic declines, in our view; 2) BEF Foods will likely continue to be a low-margin business given its limited pricing power, lack of meaningful scale, and increased competition; 3) the Company’s greater financial leverage may limit its ability to pursue meaningful share repurchases or dividend increases the next several quarters; and 4) our view of premium valuation. We lower our FY15 EPS estimate to $1.70 from $1.90 (Street $1.92) to reflect lower sales and margin at both divisions
Compass Point analyst Kevin Barker reiterated a Sell rating and $7 price target on Ocwen Financial Corp (NYSE: OCN), however, he said shares could react positively to the update after close on various near-term issues regarding the company. The analyst said the news "shows OCN is increasing cash balances via asset sales while the company could record gains from the sales of the agency MSRs."
The analysts write their note the morning after Ocwen Financial announced more MSR sales, and the hiring of advisors to explore strategic options. The team is suspending Ocwen EPS estimates for 2015 and 2016 "since we have no idea what the new Ocwen will look like." Sterne's best estimate of tangible book value is about $10 per share
A $370 – $420 million non-cash charge to write-off goodwill
You can't be this big of a fool, are you? Keep pumping while smart money dumping... See u at $0000000