09:39:11 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Heroux-Devtek Inc
Symbol HRX
Shares Issued 36,126,631
Close 2017-05-26 C$ 13.19
Market Cap C$ 476,510,263
Recent Sedar Documents

Globe says Cherniavsky not rushing to buy Heroux-Devtek

2017-05-29 06:48 ET - In the News

The Globe and Mail reports in its Saturday, May 27, edition that though Raymond James analyst Ben Cherniavsky likes Heroux-Devtek's long-term prospects, strategic "repositioning" and free cash flow profile, he notes it lacks near-term catalysts and expects flat earnings per share this year. The Globe's David Leeder writes in the Eye On Equities column that Mr. Cherniavsky says, "More importantly, we believe that valuation continues to limit the near-term upside with the stock currently reflecting our 'full cycle' fiscal 2021 earnings scenario." On Thursday, Heroux-Devtek posted fourth quarter 2017 revenue ($121-million), gross profit margins (17.2 per cent) and expenses ($8.5-million) that all met Mr. Cherniavsky's projections. They lead to earnings before interest and taxes of $12.3-million, again matching his estimates and representing a drop of 8 per cent from the same period a year ago. With a "market perform" rating, his target rose to $13.25 from $13. Analysts on average target the shares at $14.05. Mr. Cherniavsky says, "We see no rush to buy this stock today at its current price." Meanwhile, Desjardins Securities analyst Benoit Poirier maintained a $15 share target and "hold" rating.

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