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Bear of the Day

Bemis Company (BMS) reported third-quarter EPS of $0.56, a penny below the year-ago quarter and missing the Zacks Consensus Estimate by 2 cents. Rising raw materials prices have significantly impacted the company, putting downward pressure on its margins.

Nearly 35% of its total revenues last year came from its business outside the United States. Recent instability in the global markets and foreign exchange rates may hinder its revenue generation and other financial results.

Further, lower volume levels remain a point of concern. Thus, we reiterate our Underperform recommendation with a target price of $25.00.

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