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SERV

ServiceMaster

$49.38

0.17 (0.35%)

, FTDR

Frontdoor

$35.03

-0.15 (-0.43%)

07:10
05/07/19
05/07
07:10
05/07/19
07:10

ServiceMaster backs FY19 revenue view of $2.02B-$2.05B, consensus $2.03B

Sees FY19 2019 revenue $2.02B-$2.05B, with organic revenue growth at Terminix expected to range from 2%-3%. "ServiceMaster Brands will continue to focus on high value business verticals and revenue channels such as commercial restoration, healthcare and commercial cleaning national accounts and is expected to drive organic growth in the mid-single digits," the company said. FY19 adjusted EBITDA is anticipated between $435M-$445M. CEO Nik Varty said, "We recently launched the Terminix Tick Defend System, in response to increasing tick borne illnesses. This is a reflection of our improved ability to leverage our product knowledge and application expertise to rapidly assess market needs and respond with innovative solutions for our customers. We also delivered on a major shareholder commitment as we successfully monetized our holdings in Frontdoor. With the proceeds, we further reduced our net debt levels by $484 million giving us additional flexibility to execute on our strategic initiatives. We remain diligently focused on profitability while investing in growth with a new operating system and a dedicated commercial pest team. Overall, solid first-quarter performance keeps us on track with our 2019 guidance expectations."

SERV

ServiceMaster

$49.38

0.17 (0.35%)

FTDR

Frontdoor

$35.03

-0.15 (-0.43%)

  • 07

    May

  • 08

    May

  • 05

    Jun

SERV ServiceMaster
$49.38

0.17 (0.35%)

03/12/19
OPCO
03/12/19
NO CHANGE
Target $55
OPCO
Outperform
ServiceMaster price target raised to $55 from $47 at Oppenheimer
Oppenheimer analyst Ian Zaffino raised his price target for ServiceMaster to $55 from $47 as management continues to target best-in-class retention by 2021. The analyst believes incremental margins should be 30%-plus by Q4 of 2019, and even higher thereafter, as retention improvements eliminate the need for elevated marketing spend. ServiceMaster Brands could be a large source of upside, as it enters commercial adjacencies and/or leverages Terminix, he contends. Zaffino reiterates an Outperform rating on the shares.
02/27/19
SPIN
02/27/19
DOWNGRADE
SPIN
Hold
ServiceMaster downgraded to Hold from Buy at Spin-Off Research
02/06/19
MSCO
02/06/19
NO CHANGE
Target $36
MSCO
Equal Weight
ServiceMaster guidance likely to surprise to the downside, says Morgan Stanley
Morgan Stanley analyst Toni Kaplan said she expects ServiceMaster (SERV) management to guide to adjusted EBITDA that is materially below current consensus estimates when the company reports Q4 earnings later this month. She believes consensus has not built in higher costs from dis-synergies and a $9M investment related to its new partnership with Salesforce.com (CRM). She also expects investors to focus on Terminix organic sales growth guidance, which she predicts will be guided at roughly 2%. In a case where the company issues below-consensus FY19 adjusted EBITDA guidance with 2% or less organic revenue growth for Terminix, which she views as the most likely scenario, Kaplan sees the stock declining 7%. If the EBITDA guidance misses but Terminix organic revenue growth is guided to be 2.5% or better at the midpoint, Kaplan expects the stock to be flat. In a scenario where FY19 EBITDA guidance is in-line and Terminix organic growth guidance is 2.5% or better, Kaplan sees the stock increasing 5%. She keeps an Equal Weight rating on ServiceMaster with a $36 price target.
11/30/18
BUCK
11/30/18
INITIATION
Target $29
BUCK
Buy
Frontdoor initiated with a Buy at Buckingham
Buckingham analyst James Clement initiated Frontdoor (FTDR) with a Buy rating and $29 price target. He believes the stock's "very poor" trading since its spinoff from ServiceMaster (SERV) on October 1 provides a buying opportunity, stating that Frontdoor is in the process of raising prices and he thinks it has plenty of room to do so. Clement believes the most attractive long-term aspect of the story is the potential for Frontdoor to be a disruptor in home improvement, maintenance and repairs, but acknowledges the company will have to invest significantly to make this a reality.
FTDR Frontdoor
$35.03

-0.15 (-0.43%)

04/25/19
04/25/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with an Outperform at Raymond James. 2. Sage Therapeutics (SAGE) initiated with a Buy at Jefferies. 3. Eyenovia (EYEN) initiated with an Outperform at Oppenheimer. 4. DXP Enterprises (DXPE) initiated with a Hold at Jefferies. 5. Replimune Group (REPL) initiated with an Outperform at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/25/19
RAJA
04/25/19
INITIATION
Target $42
RAJA
Outperform
Frontdoor initiated with an Outperform at Raymond James
Raymond James analyst Justin Patterson initiated Frontdoor with an Outperform and $42 price target saying it is a "compelling" digital transformation story. Patterson believes Frontdoor is positioned for share gains and steady 8%-9% revenue growth over the near-term, and said its high EBITDA margins and asset light model drives healthy cash flow generation and fuels organic growth.
04/24/19
04/24/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with a Buy at Goldman Sachs. 2. Children's Place (PLCE) initiated with a Buy at DA Davidson. 3. Targa Resources (TRGP) resumed with an In Line at Evercore ISI. 4. Polaris Industries (PII) initiated with a Buy at Goldman Sachs, while BRP Inc. (DOOO) was initiated with a Neutral. 5. Twin River Worldwide (TRWH) initiated with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/24/19
GSCO
04/24/19
INITIATION
Target $41
GSCO
Buy
Frontdoor initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Michael Ng started Frontdoor with a Buy rating and $41 price target. The company is well positioned for overall U.S. home service plan category growth, which is underpenetrated at 4% of U.S. homes, Ng tells investors in a research note. Further, Frontdoor should benefit from recent price increases as well as the potential normalization of weather in 2019, the analyst adds.

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