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RPM

RPM

$59.43

0.32 (0.54%)

06:48
04/04/19
04/04
06:48
04/04/19
06:48

RPM CEO says 'our outlook for the fiscal 2019 fourth quarter is positive'

"Looking ahead, our outlook for the fiscal 2019 fourth quarter is positive. In the fourth quarter, which is seasonally our strongest, we expect to generate low-single-digit consolidated sales growth and double-digit adjusted EBIT growth as a result of recently implemented price increases taking hold, our MAP to Growth savings being realized and moderating raw material costs," stated CEO Sullivan. "In the fourth quarter, we expect sales growth in our industrial segment to be flat to slightly down as the segment will be impacted by tough comparisons to last fiscal year and its exposure to weakening international markets and unfavorable foreign exchange. This should be offset by savings from our MAP to Growth operating improvement plan and moderating raw material costs. For our consumer segment, we anticipate high-single-digit sales growth because of market share gains, easier comparisons to last fiscal year and the beginning of margin recovery. In the specialty segment, which comprises about 15% of consolidated sales, sales growth should be modest," Sullivan stated. "Based on our expectations for solid top-line sales growth and double-digit adjusted EBIT growth, our fiscal 2019 fourth-quarter adjusted earnings guidance is a range of $1.12 to $1.16 per diluted share, which includes accretion of $0.03 to $0.04 per share as a result of share repurchases completed this year, versus the adjusted $1.05 during last year's fourth quarter," stated Sullivan.

  • 04

    Apr

RPM RPM
$59.43

0.32 (0.54%)

12/24/18
JPMS
12/24/18
DOWNGRADE
JPMS
Underweight
JPMorgan downgrades RPM to Underweight on valuation after 2018 rally
JPMorgan analyst Jeffrey Zekauskas downgraded RPM International to Underweight from Neutral and lowered his price target for the shares to $55 from $60. The stock closed Friday down 79c to $58.38. The analyst cites valuation for the downgrade with the shares up 11% year-to-date. The market is already discounting about half of RPM's three-year cost saving target, Zekauskas tells investors in a research note. RPM shares trade at a premium to peers because of its activist involvement and $290M cost reduction target to be achieved over the fiscal 2020 to 2022 period, says the analyst. He admits, however, that RPM may be capable of achieving a portion, or all, of its targeted cost savings in a low raw material cost environment.
12/24/18
12/24/18
NO CHANGE

Fly Intel: Top five analyst actions
Catch up on today's top five analyst actions with this list compiled by The Fly: 1. CarMax (KMX) upgraded to Buy from Neutral at Guggenheim with analyst Ali Faghri citing valuation. 2. Newtek Business (NEWT) upgraded to Outperform from Market Perform at Raymond James. 3. RPM (RPM) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 4. BlackBerry (BB) downgraded to Sell from Buy at Veritas. 5. Histogenics (HSGX) downgraded to Neutral from Buy at H.C. Wainwright with analyst Swayampakula Ramakanth saying the FDA is requiring an additional study with NeoCart. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/19
VERT
01/03/19
DOWNGRADE
VERT
Sell
RPM downgraded to Sell from Hold at Vertical Research
Vertical Research analyst Kevin McCarthy downgraded RPM to Sell from Hold.
01/07/19
BMOC
01/07/19
NO CHANGE
Target $72
BMOC
Outperform
RPM price target lowered to $72 from $77 at BMO Capital
BMO Capital analyst John McNulty lowered his price target on RPM to $72 after its "modestly disappointing" Q2 results reported on Friday. The analyst says the high raw materials have continued to "negatively impact the margins for the segment", while the weakness in European operations and weather factors weighed on the company's top line. McNulty keeps his Outperform rating on RPM longer term, saying the company's cost cutting efforts are on track and that the stock is "relatively inexpensive".

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