- Mizuho analyst Brett Linzey reiterated a Neutral rating on the shares of Vertiv Holdings Co (NYSE:VRT) with a price target of $10.00.
- The company had announced that its CEO Rob Johnson, will be stepping down due to health reasons effective December 31, 2022.
- His successor Giordano Albertazzi, the analyst says, will be focused on continuing to execute the current strategies in place.
- Linzey said Vertiv, though reaffirmed its Q3 guidance, expected results to be at the lower end of the range primarily from FX headwinds.
- Though its FY23 operating profit guidance of $730 million – $750 million, the analyst thinks, is plausible, with price finally catching up and operational issues getting ironed out, this creates a high bar heading into next year amid a slowing global backdrop.
- Linzey lists pullback in hyperscale data center spending, sharper slowdown in the Asia Pacific, which is 25% of the portfolio, and lingering supply challenges that limit the ability to serve the customer and convert orders as potential risks.
- Lower business confidence could also support reduced capital expenditure activity, and product deficiencies that flare up could impede the ability to compete on new products, added the analyst.
- Price Action: VRT shares are trading higher by 5.64% at $11.89 on the last check Tuesday.
E W Scripps Q2 EPS $0.32 Misses $0.37 Estimate, Sales $594.00M Miss $603.70M Estimate
E W Scripps (NASDAQ:SSP) reported quarterly earnings of $0.32 per share which missed the analyst consensus estimate of $0.37 by 13.51 percent. This is a 27.27 percent decrease over earnings of $0.44 per share from the
