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UPDATE: Bank Of America Downgrades TAL International After EPS Falls Short

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In a report published Thursday, Bank of America analyst Ken Hoexter downgraded the rating on TAL International (NYSE: TAL) from Neutral to Underperform, and lowered the price target from $47.00 to $45.00.

In the report, Bank of America noted, “TAL reported normalized 2Q14 EPS of $0.95, down 11% year-over-year, shy of our $0.98 and consensus' $0.96 estimates. Leasing revenue was $145 million, $2.5 million below our target, although total revenue of $164 million was ahead of our $158 million estimate due to higher Equipment Trading Revenue. Utilization fell 20 bps year-over-year to 97.3%, but topped our 96.0% estimate. Operating income was $76 million, $2 million below our target due to the lower leasing revenues and higher than expected operating expenses.”

TAL International closed on Wednesday at $46.77.

Latest Ratings for TAL

DateFirmActionFromTo
Apr 2019DowngradesBuyHold
Mar 2019UpgradesEqual-WeightOverweight
Oct 2018MaintainsNeutralNeutral

View More Analyst Ratings for TAL
View the Latest Analyst Ratings

Posted-In: Bank of America Ken HoexterAnalyst Color Downgrades Analyst Ratings

 

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