Hain Celestial Group (HAIN)
by Zacks Equity ResearchJune 28, 2012 | Comments : 0 Recommended this article: (0)
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Quarterly earnings of $0.54 per share beat the Zacks Consensus Estimate of $0.50, and rose 50% from the prior-year quarter. The company's top line also grew an impressive 31.5%. The better-than-expected result prompted management to raise fiscal 2012 earnings guidance to a range of $1.76 to $1.80 per share. Total sales are now projected between $1.40 billion and $1.41 billion for the year.
Acquisitions have been also a key part of the company's strategy to build market share. Buoyed by better-than-expected results and an optimistic outlook, we upgrade our recommendation on the stock to Outperform.
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