Q: Can you please comment on their earnings release and would you recommend purchase of the shares at these levels? Thanks
5i Research Answer:
EPS of $1.13 beat estimates of $1.03; revenue of $1.85B beat estimates of $1.76B. EBITDA of $386.7M beat estimates by 7%. Raymond James bumped up its target to $87 from $84. Sales rose 12.2% with a nice 8.5% organic growth. Checkpoint was very strong with 17.5% growth. Basic earnings rose 77%. This was another solid quarter from the company and even more impressive considering some recent weakness in the consumer sector. We would be comfortable buying today at 17X earnings.