The Zacks Analyst Blog Highlights: Iconix Brand Group, Citrix Systems, VMware, Vocus and CA
For Immediate Release
Chicago, IL – August 28, 2013 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Iconix Brand Group, Inc (ICON-Free Report), Citrix Systems Inc. (CTXS-Free Report), VMware, Inc. (VMW-Free Report), Vocus Inc. (VOCS-Free Report) and CA Inc. (CA-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday’s Analyst Blog:
Iconix Reiterated at Outperform
On Aug 26, we reiterated our Outperform recommendation on Iconix Brand Group, Inc (ICON-Free Report) on the back of its solid second quarter 2013 results and an enhanced guidance for the year.
Why the Reiteration?
Iconix reported solid second quarter 2013 results on Jul 24. Earnings of 72 cents increased 60% from the year-ago earnings, bolstered by top-line growth, strategic acquisitions and lower share count owing to buybacks.
Total revenue surged 23% year over year to $115.1 million backed by the company’s strong brand portfolio, recent acquisitions and continued focus on international expansion, which includes the new joint venture in Canada. The formation of the Canadian joint venture contributed approximately $9.8 million to current quarter revenues. Both earnings and revenues surpassed the Zacks Consensus Estimate.
Following strong second quarter 2013 results, Iconix raised its 2013 adjusted earnings guidance range to $2.20–$2.30 per share from the previously announced range of $2.10–$2.20 per share. The company has raised its earnings guidance consecutively in the last two quarters to include the impact of acquisitions made in the recent past. Moreover, Iconix expects to deliver over 20% revenue and earnings per share growth for 2013.
Iconix’s overall growth story looks compelling. This clothing brand licensing company has been aggressively acquiring brands and entering into joint ventures to expand its portfolio. Most recently it added the rest of Ecko and Marc Ecko Cut & Sew under its banner in May 2013.
Citrix, VMWare Team Up
Citrix Systems Inc. (CTXS-Free Report), which offers cloud computing services to PC and laptop users, will be launching its popular NetScaler Control Center for VMware, Inc. (VMW-Free Report). This will allow users to automatically configure NetScaler from the VMware platform.
Installation of NetScaler programs in networks which employ will allow cloud administrators to incorporate program-based NetScaler services into application-based datacenters built on the VMware virtualization platform.
Such services will not only provide users flexibility to operate the VMware platform but will also improve datacenter performance. Combining NetScaler Control Center with VMware NSX not only eliminates difficulties related with physical network topology but also helps users to install NetScaler services without delay.
Last month, Citrix declared strong financial results for the second quarter of 2013. Both its top and bottom lines have easily surpassed the Zacks Consensus Estimate. The company’s Networking and Cloud Solutions revenues were $164.8 million, up by a significant 46.2% year over year while the Mobile and Desktop revenues were $382.2 million, up 10.8% year over year.
So, Citrix’s Networking and Cloud Solutions revenues will further get bolstered with the launch of the new cloud solution service. A few days back the company enhanced its mobile computing platform by offering Citrix Worx App Gallery. Improvement of the new mobile apps will also drive the Mobile and Desktop revenues.
Citrix currently carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Other stocks to consider in the Business Software & Services industry are Vocus Inc. (VOCS-Free Report) and CA Inc. (CA-Free Report). Vocus carries a Zacks Rank #2 (Buy) while CA Inc. carries a Zacks Rank #3 (Hold).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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