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Fly News Breaks for November 9, 2018
HAIN
Nov 9, 2018 | 10:37 EDT
Jefferies analyst Akshay Jagdale attributes the selloff yesterday in shares of Hain Celestial to investor concerns of an earnings reset in February following the CEO's strategic review, especially "in light of the significant" second half improvement needed to meet fiscal 2019 guidance. The analyst estimates the market is pricing in 20% lower earnings than what management guiding to, or fiscal 2019 earnings per share in the range of 98c-$1.13 versus guidance of $1.21-$1.38. The analyst, however, views the concerns as overblown. The market seems to be of the view that Hain cannot simultaneously grow its sales and its margins over the long-term, Jagdale tells investors in a research note. He disagrees, however, and views yesterday's selloff as a buying opportunity. The analyst keeps a Buy rating on Hain Celestial with a $45 price target.
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