Actuant recently lowered guidance and that might cause Wall Street to lose faith in management. Let’s look at why that may be the case in the Bear of the Day.
Description
Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with operations in 15 countries. Actuant offers products under such established brand names as Enerpac, Gardner Bender, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear.
Guidance
On June 8, the company lowered guidance for 3Q17 to a range of $0.30-$-0.33. This was following earnings that were released on March 22, when the company offered guidance of $0.38 - $0.43 for the quarter.
The consensus estimate at the time of the most recent earnings report was $0.43, so the best case scenario was that Wall Street was going to see a meet in the coming quarter. The updated guidance suggests things were significantly worse than expected.
Estimates
When a accompany lowers guidance, analysts tend to move their estimates lower. That is the case for ATU and that has pushed the stock to a Zacks Rank #5 (Sell).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Actuant recently lowered guidance and that might cause Wall Street to lose faith in management. Let’s look at why that may be the case in the Bear of the Day.
Description
Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with operations in 15 countries. Actuant offers products under such established brand names as Enerpac, Gardner Bender, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear.
Guidance
On June 8, the company lowered guidance for 3Q17 to a range of $0.30-$-0.33. This was following earnings that were released on March 22, when the company offered guidance of $0.38 - $0.43 for the quarter.
The consensus estimate at the time of the most recent earnings report was $0.43, so the best case scenario was that Wall Street was going to see a meet in the coming quarter. The updated guidance suggests things were significantly worse than expected.
Estimates
When a accompany lowers guidance, analysts tend to move their estimates lower. That is the case for ATU and that has pushed the stock to a Zacks Rank #5 (Sell).
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential?
This Special Report gives you the current scoop on 5 that may go public at any time. One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth.
Download this IPO Watch List today for free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>