Analyst Trims Superior Group Of Companies' Price Target By 10% Amidst Macro Uncertainty
Analyst Trims Superior Group Of Companies' Price Target By 10% Amidst Macro Uncertainty
在宏觀不確定性中，分析師將高級公司集團的價格目標修剪 10％
- Barrington Research analyst Kevin Steinke reiterated an Outperform rating on the shares of Superior Group of Companies Inc (NASDAQ:SGC) and lowered the price target from $19 to $17.
- The company's Q4 sales increased 4.6% Y/Y to $148.6 million, better than the analyst's estimate of $141.7 million.
- During 2022, Superior combined its non-healthcare uniforms business, called HPI, with its promotional products business, called BAMKO, to form the Branded Products (BP) segment.
- BP segment revenue increased 6.5% YOY to $102.0 million, driven by the acquisitions of two promotional products businesses.
- Q4/22 revenue in the Healthcare Apparel segment was down 13.4% Y/Y to $26.4 million due to the ongoing market slowdown that followed accelerated stockpiling of healthcare apparel inventory by the company's clients end-consumers.
- Q4/22 adjusted EBITDA declined 58% YOY to $3.5 million. Superior ended 2022 with a net debt to EBITDA leverage ratio of 3.85x.
- Management anticipates that the company will likely exceed its maximum financial covenant leverage ratio of 4.0x in the near term based on the inventory write-down that reduced Q4/22 EBITDA and its financial forecast for 2023, noted the analyst.
- Superior provided 2023 revenue guidance for the first time that calls for revenue of $585-595 million, up 1.1% to 2.8% Y/Y.
- The company provided 2023 EPS guidance of $0.92-0.97, up 48% to 56% from adjusted EPS of $0.62 in 2022. This was lower than the analyst's prior estimate of $1.40.
- The analyst has updated the 2023 revenue guidance to $590.6 million and EPS estimate to $0.92.
- The analyst attributed the price target reduction to 2023 guidance and a more conservative valuation assumption due to current economic uncertainty.
- Price Action: SGC shares are trading flat at $7.91 on the last check Tuesday.
- 巴靈頓研究公司分析師凱文·斯坦克重申了對該公司股票的跑贏大盤評級秀克黎世集團公司(納斯達克：SGC)並將目標價從19美元下調至17美元。
- 該公司第四季度銷售額同比增長4.6%，至1.486億美元，好於分析師預測的1.417億美元。
- 2022年，Superior將其名為HPI的非保健制服業務與名為BAMKO的促銷產品業務合併，形成了品牌產品(BP)部門。
- BP部門收入同比增長6.5%，至1.02億美元，受收購兩項促銷產品業務的推動。
- 2012年第四季度，醫療保健服裝部門的收入同比下降13.4%，至2640萬美元，原因是該公司的客戶和最終消費者加速囤積醫療服裝庫存，導致市場持續放緩。
- 2012年第四季度調整後的EBITDA同比下降58%，至350萬美元。截至2022年，Superior的淨債務與EBITDA的槓桿率為3.85倍。
- 這位分析師指出，管理層預計，基於降低了第四季度/22季度EBITDA的庫存減記及其對2023年的財務預測，公司近期可能會超過其最高財務契約槓桿率4.0倍。
- 秀克泊爾首次提供了2023年營收指引，營收為5.85億-5.95億美元，同比增長1.1%至2.8%。
- 該公司提供的2023年每股收益指引為0.92-0.97美元，較2022年調整後的每股收益0.62美元上漲48%至56%。這低於分析師先前估計的1.40美元。
- 該分析師將2023年收入指引更新為5.906億美元，每股收益預期為0.92美元。
- 這位分析師將下調目標價歸因於2023年的指引以及由於當前經濟不確定性而做出的更為保守的估值假設。
- 價格行動：在週二的最後一次檢查中，SGC的股價持平於7.91美元。
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