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Maxwell (MXWL) Initiatives, Nesscap Energy Buyout Bode Well
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We issued an updated research report on Maxwell Technologies, Inc. on Mar 21. The company recently launched a global restructuring plan that includes a reduction-in-force, significant cost-containment action as well as a manufacturing and supply chain consolidation to optimize cost structure and position it to better to counter near-term headwinds. Maxwell expects to achieve approximately $6 million in annualized savings through these initiatives.
Maxwell’s key end markets will likely benefit from the government stimulus programs and stringent automotive emission legislations. Going forward, management expects the company to resume its organic revenue growth in the second quarter of 2017.
Moreover, in Feb 2017, the company announced that it has agreed to buy Nesscap Energy — a developer and manufacturer of ultracapacitor products for use in transportation, renewable energy, industrial and consumer markets. Management expects this takeover to accelerate the diversification of Maxwell’s business apart from increasing its ultracapacitor revenue by approximately 35% from the present level.
With respect to earnings, Maxwell ended 2016 on a mixed note, with its fourth-quarter adjusted loss figure missing the Zacks Consensus Estimate for loss, while the top line exceeded the same. Year over year, both the top and bottom line deteriorated.
Maxwell’s share price lost 3.5% in the last one year, compared to the Zacks categorized Electronics-Miscellaneous Components industry's gain of 34.1% as the latest subsidy changes in the China bus market have been denting revenues. The company also faces tough competition from peers like AU Optronics Corp. , Kyocera Corporation and Stoneridge, Inc. (SRI - Free Report) .
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Maxwell (MXWL) Initiatives, Nesscap Energy Buyout Bode Well
We issued an updated research report on Maxwell Technologies, Inc. on Mar 21. The company recently launched a global restructuring plan that includes a reduction-in-force, significant cost-containment action as well as a manufacturing and supply chain consolidation to optimize cost structure and position it to better to counter near-term headwinds. Maxwell expects to achieve approximately $6 million in annualized savings through these initiatives.
Maxwell’s key end markets will likely benefit from the government stimulus programs and stringent automotive emission legislations. Going forward, management expects the company to resume its organic revenue growth in the second quarter of 2017.
Moreover, in Feb 2017, the company announced that it has agreed to buy Nesscap Energy — a developer and manufacturer of ultracapacitor products for use in transportation, renewable energy, industrial and consumer markets. Management expects this takeover to accelerate the diversification of Maxwell’s business apart from increasing its ultracapacitor revenue by approximately 35% from the present level.
With respect to earnings, Maxwell ended 2016 on a mixed note, with its fourth-quarter adjusted loss figure missing the Zacks Consensus Estimate for loss, while the top line exceeded the same. Year over year, both the top and bottom line deteriorated.
Maxwell’s share price lost 3.5% in the last one year, compared to the Zacks categorized Electronics-Miscellaneous Components industry's gain of 34.1% as the latest subsidy changes in the China bus market have been denting revenues. The company also faces tough competition from peers like AU Optronics Corp. , Kyocera Corporation and Stoneridge, Inc. (SRI - Free Report) .
Zacks Rank
Maxwell currently carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>