DMC Global: Rises as Q4 results beat, positive on 2020 growth
21/02/2020 19:12
** Energy, manufacturing services provider's shares BOOM.O
up 2.1% at $39.86
** Co reports Q4 adj. profit of 65 cents/shr vs estimates of
45 cents/shr; beats EPS for eight straight qtrs - Refinitiv IBES
** Quarterly sales down 4% at $86.4 mln, but ahead of
estimates
** Forecasts Q1 2020 sales between $80 mln and $84 mln, the
midpoint of which is slightly higher than ests
** Co anticipates sales will begin to improve during the
second quarter of 2020 as new products from DynaEnergetics,
DMC's oilfield products business take hold in the market
** "We are well positioned to navigate the near-term
headwinds and pricing pressure in the energy market", says Kevin
Longe, CEO
** Brokerage Roth Capital Partners says outlook is
"conservative", but appropriate as the macro picture remains
cloudy due to coronavirus and its impact
** When the macro environment settles down we believe BOOM
is well-positioned for continued market share and revenue
growth, brokerage says, adding that BOOM remains highly
attractive across metrics
** Avg. rating on stock is "strong buy"; median PT is $55
** Stock down 10.3% YTD
(Reporting by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))