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Decisive Dividend Corp
Symbol DE
Shares Issued 19,378,757
Close 2024-05-13 C$ 7.53
Market Cap C$ 145,922,040
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Globe says Decisive Dividend cut to "market perform"

2024-05-14 08:26 ET - In the News

The Globe and Mail reports in its Tuesday, May 14, edition that Raymond James analyst Steve Hansen has lowered his recommendation for Decisive Dividend to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen slashed his share target by $3.25 to $8.25. Analysts on average target the shares at $9.58. Mr. Hansen issued his downgrade on Monday in response to weaker-than-expected first quarter financial results and "accompanying commentary pointing to a slowdown in several key end-markets, including the hearth industry." The acquisition-oriented company, which focuses largely on manufacturing, reported quarterly adjusted earnings before interest, taxes, depreciation and amortization of $4-million, down 19 per cent year-over-year and well below both Mr. Hansen's $6.9-million estimate and the Street's expectation of $6.2-million due largely to lower-than-anticipated sales. EBITDA for its finished product segment dropped 37 per cent to $12-million, well below the analyst's $4.8-million projection, while its component manufacturing business saw a rise of 14 per cent to $3-million, but that was also lower than Mr. Hansen's forecast ($3.3-million).

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