Markets & Finance

Jeffries Lowers Rating on Catalina Marketing


Jefferies downgraded Catalina Marketing (POS) to hold from accumulate.

Analyst Michael Legg says Catalina also pre-announced Q2 results, giving him pause as to management's visibility. He notes management attributed the shortfall to weakness in the core business, citing reduced manufacturers' spending. He says the company believes the reduced spending trend will continue through Q2, but Legg says he's comfortable with growth expectations for its new initiatives.

He cut the $101 million Q1 revenue estimate to $94 million and cut the $0.21 EPS estimate to $0.14. He also cut the $506 million fiscal 2002 (March) revenue estimate to $473 million, and cut the $1.19 EPS estimate to $1.00 -- below management's $1.10-$1.19 guidance. Legg also trimmed the $40 target to $32.


Video Game Avenger
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus