27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
DA Davidson analyst Brent Thielman downgraded Southland Holdings Inc (AMEX:SLND) to Neutral from Buy at a lowered price target of $7 from $12.
The analyst is bearish on the company following weaker-than-expected Q2 FY23 results.
The company reported Q2 adjusted EPS loss of $(0.76), which missed the consensus of $0.34, and sales of $256.93 million missed the street view of $257.00 million.
Thielman thinks Southland's disclosure of a backlog of $500 million which is largely at zero margin and some extending to 2025, poses a risk for the company.
The analyst notes the significant charges related to the discontinuing operations and future anticipated costs for relying on third parties to complete related work led to a gross and adjusted EBITDA loss in Q2.
The analyst also sees a significant increase in debt/EBITDA leverage ratios as a matter of concern.
Consequently, Thielman considerably reduced the estimate for EBITDA to $19.4 million (from $145.3 million) vs. consensus of $102.6 million for FY23 and $83.0 million (from $167.3 million) vs. $156.1 million estimate for FY24.
Price Action: SLND shares are trading lower by 2.18% at $6.27 on the last check Wednesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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