Philips: Oddo cuts earnings estimates
(CercleFinance.com) - Oddo has trimmed its 2019 EPS estimates by -1.
2%, believing that growth over Q3 should be solid, although that the group's margin could come in under expectations (20bp improvement expected at 13.4%, against 14.1% previously).
Analysts confirm their Neutral rating on the share, along with a target price of 39 euros.
The PH division is expected to continue to suffer from by advertising and promotional spending, while Connected Care will again be impacted by tariffs and mix. As a result, the group's margin is not expected to grow this quarter, despite a sharp rise in expected growth, Oddo says.
With Q3 probably under expectations in terms of its margin, hopes will then refer to the last quarter, which the broker says that it puts its guidance at risk.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2%, believing that growth over Q3 should be solid, although that the group's margin could come in under expectations (20bp improvement expected at 13.4%, against 14.1% previously).
Analysts confirm their Neutral rating on the share, along with a target price of 39 euros.
The PH division is expected to continue to suffer from by advertising and promotional spending, while Connected Care will again be impacted by tariffs and mix. As a result, the group's margin is not expected to grow this quarter, despite a sharp rise in expected growth, Oddo says.
With Q3 probably under expectations in terms of its margin, hopes will then refer to the last quarter, which the broker says that it puts its guidance at risk.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.