There’s a lot to be optimistic about in the Financial sector as 3 analysts just weighed in on BBX Capital Corporation (BBX), Clarivate Analytics PLC (CCC) and Global Net Lease (GNL) with bullish sentiments.
BBX Capital Corporation (BBX)
B.Riley FBR analyst Mike Crawford maintained a Buy rating on BBX Capital Corporation today and set a price target of $11.25. The company’s shares closed yesterday at $3.84, close to its 52-week low of $3.80.
Crawford commented:
“Buy-rated BBX Capital (BBX, $11.25) reported 2Q19 results before market open on 8/7, a day after its 90.3%-owned affiliate Bluegreen Vacations (BXG) reported results that included a $39M non-recurring accrual to reflect all costs of settlement in the period that BXG successfully reinstated access to Bass Pro. While this previously success-based marketing channel now comes at a higher fixed cost, and BXG will scramble to fill inbound-lead and sales pockets into 2Q20, we have reset our BBX model to better reflect this rebuilding process. In this regard, Bluegreen revenue and EBITDA projections embedded within our BBX model shift from $738M/$142M to $739M/$119M in in FY20.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 5.4% and a 52.4% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BBX Capital Corporation with a $11.25 average price target.
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Clarivate Analytics PLC (CCC)
In a report released today, Zach Cummins from B.Riley FBR maintained a Buy rating on Clarivate Analytics PLC, with a price target of $19.50. The company’s shares closed yesterday at $16.54.
Cummins noted:
“Clarivate Analytics (CCC) reported 2Q19 results before the market open on Wednesday, 8/7. Shares increased ~4.4% (versus NASDAQ’s +0.4%) in yesterday’s trading session on upside 2Q results and reaffirmed FY19 guidance. We provided our initial takeaways in our 8/7 flash note. Against our model, subscription revenues exceeded our projection due to price increases and new wins within the Science product group, which grew low single-digits Y/Y . This was partially offset by lower transactional revenues, which were below our model due to timing of product orders and management’s active shift towards subscription-oriented products. The lower transactional revenues created a headwind for the Intellectual Property (IP) product group, which was approximately flat Y/Y .”
According to TipRanks.com, Cummins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.5% and a 31.8% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, American Software, and ChannelAdvisor.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Clarivate Analytics PLC with a $19.50 average price target.
Global Net Lease (GNL)
B.Riley FBR analyst Bryan Maher maintained a Buy rating on Global Net Lease yesterday and set a price target of $24. The company’s shares closed yesterday at $20.11.
Maher said:
“Global Net Lease (GNL) reported 2Q19 results that modestly beat EBITDA estimates, although AFFO/share was slightly below expectations. Adjusted EBITDA came in at $58.6M, above ours/ consensus estimates of $58.1M/$57.5M. AFFO/share came in at $0.47, slightly below ours and the consensus estimate of $0.48. Management remained active in the transaction market, acquiring nine industrial, distribution, and office properties for $187.3M (7.67% cap rate). This compares to our $77.7M estimate. In addition, GNL sold 64 properties in the quarter, including 62 Family Dollar stores, for a total of $83.3M. This further reduces the REITs exposure to retail to just 6.0% of annualized straight-line rent. We had no dispositions baked into our model.”
According to TipRanks.com, Maher is a 4-star analyst with an average return of 7.0% and a 53.2% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Office Properties Income Trust.
Global Net Lease has an analyst consensus of Moderate Buy, with a price target consensus of $24.
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