Coinstar Volatile, Higher in Early Trading
Coinstar (NASDAQ: CSTR) is trading higher today on the heels of its first-quarter and full-year earnings and guidance announcement last night. The company raised its Q1 EPS guidance to $1.36-1.40 versus the much lower $0.90 average analyst estimate. It guided Q1 revenues at $567-569.2M versus the $538.6M average analyst estimate.
The company was halted for earnings news and resumed trading at 4:30pm during Thursday's post-market session, quickly trading higher after resumption. The stock traded over 13% higher after the announcement.
Analysts quickly responded to the earnings announcement. Dougherty & Company raised its price target on the stock from $60 to $70, while maintaining its Neutral rating. Pacific Crest also increased its price target on the stock from $70 to $83. B Riley also raised its price target, with Compass Point moving from $59 to $70 on its rating.
The company also raised full-year EPS and revenues guidance for 2012. In the announcement, Coinstar noted particular consumer demand for movie rental kiosks.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.