Citi Raises Hain Celestial Group Estimates (HAIN)
Citi Global Markets raised 2011 and 2012 earnings estimates for The Hain Celestial Group, Inc. (NASDAQ: HAIN) today. The company reported fourth quarter results that beat estimates, and issued better-than-expected 2011 guidance.
The Hain Celestial Group reported 4Q10 EPS of $0.26 vs $0.24 consensus estimates. Citi maintains a Buy rating on the stock, with a $26 target price.
Analysts at Citi "believe current investor expectations for HAIN are low, based on its relatively low multiple. We think HAIN is well positioned to meet our EPS estimates."
Citi's "confidence in HAIN's ability to achieve our estimates is based on decent top-line growth, driven by continued consumer demand for natural/organic products as well as the expected benefit from cost-cutting."
The Hain Celestial Group, Inc. manufactures, markets, distributes and sells natural and organic products Shares closed 5.75% higher Thursday, to $21.84.
