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In a note released Friday, Wedbush removed Outerwall (NASDAQ: OUTR) from its "Best Ideas" list due to the "significant" cut in its full-year guidance and a lack of "meaningful" near-term catalysts.
Wedbush noted that for the second quarter, Outerwall posted revenue at the low end of guidance and well below the firm's estimates but was able to beat the consensus on EPS with effective cost controls.
The company lowered its full-year 2014 revenue guidance from $2.378 - $2.488 billion to $2.254 - $2.334 billion and its EPS guidance from $6.68 - $7.18 to $5.78 - $6.28.
Wedbush's full-year estimates have gone from $2.5 billion to $2.334 billion for revenue and from $7.40 to $6.38 for EPS.
Despite being removed from the "Best Ideas" list, Wedbush has maintained an Outperform rating and $82 price target on the stock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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