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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The brokerage also raised the price target by $6.50 to $38, implying a potential upside of 15 percent from the current levels.
Brink's reported second-quarter non-GAAP revenues of $717 million, which were above Imperial estimate of $700 million and above consensus estimate of $699 million. Adjusted EPS of $0.38 topped Imperial as well as consensus estimate of $0.26.
Under new CEO Doug Pertz, management has issued a new FY16 non-GAAP outlook, which "we believe is more manageable and transparent, yet still a substantial task to accomplish over the next few quarters."
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The company expects revenues of $2.9 billion, and adjusted EPS of $1.95–$2.10 (vs. $2.00–2.20 prior guidance). Imperial anticipates EPS of $2.03 for 2016.
Meanwhile, Pertz believes U.S. operating margin could approach 5 percent by year-end 2016.
"We believe that the new management team has a positive track record that can be leveraged to help improve Brink's sales and marketing efforts, while also reducing operational costs and improving company-wide margins," analyst Jeff Kessler wrote in a note.
Further, Kessler recommended following four strategic actions that could improve the North American story:
- "Increasing performing branches in the U.S."
- "Driving higher revenue."
- "Changing the revenue mix to higher margin services."
- "Pursuing better results from filling out and strengthening the U.S. management team."
Noting investors should be patient with the stock, as the analyst said, "Quarter-by-quarter results may be somewhat challenged, however, we believe full-year 2016 and 2017 can provide double-digit growth in operating earnings, EBITDA, and EPS."
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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.