Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Natural Resource Partners, L.P. (NYSE: NRP), Intellon Corporation (NASDAQ: ITLN), Avon Products (NYSE: AVP), Excel Maritime Carriers Ltd. (NYSE: EXM) and Gander Mountain (NASDAQ: GMTN).
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Here are highlights from Wednesday’s Analyst Blog:
Nat'l Resource Ptrs Retains a Buy
Houston, TX-based Natural Resource Partners, L.P. (NYSE: NRP) is a master limited partnership engaged mainly in owning and managing coal properties in the Appalachian region, the Illinois basin and the Powder River basin.
We are maintaining our Buy recommendation on Natural Resource Partners but are lowering our target price from $33.50 to $29.50 per unit. The partnership looks to grow distributable cash flow in '09/'10 as its lessees have locked in coal production at prices above '08 levels.
Intellon a Strong Semi Play
Intellon Corporation (NASDAQ: ITLN) is a fabless semiconductor company that designs, develops, manufactures and markets integrated circuits (ICs) for powerline communications or high-speed communications over existing electrical wiring.
December top and bottomline results met consensus estimates as home networks continue to grow. Margins are trending up as higher margin products are an increasing part of the sales mix. The weak macro environment could provide a short-term tail wind as homeowners may upgrade home networks in lieu of taking vacations.
Avon Products Ringing Bells
Avon Products (NYSE: AVP) is benefiting from both the expansion into the developing and emerging markets and its emphasis on the Beauty products portfolio. Management aims to achieve high single-digit local currency revenue growth supported by margin expansion over the long term.
In November 2005, management initiated a multi-year restructuring plan in an effort to accelerate sales growth and strengthen the company's competitive position. Management has instilled financial discipline throughout the company.
Excel Maritime Cuts Dividend
Today, Excel Maritime Carriers Ltd. (NYSE: EXM) announced that it is suspending its $0.40 quarterly dividend in response to flagging market and financial conditions.
At the same time, EXM announced that agreements with 2 companies with long-term charters on 3 of EXM’s vessels have recently unilaterally started to pay approximately 50% of the agreed charter rate. Over the life of the charters, this will cost EXM about $107 million in cash flows, of which $32 million would be realized in 2009 and an additional $35 million in 2010.
Gander Mountain Shoots Up
Small-cap retailer Gander Mountain (NASDAQ: GMTN), the nation's largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle apparel and footwear, announced preliminary results for the 4th quarter the were better than expected. The retailer expects to report 4th quarter consolidated sales of approximately $333 million, up 4.9% year-on-year, and above our estimate of $326 million.
More impressive is that Gander Mountain expects to report net income of $23 million, well above our estimate of $8.2 million. The upside was due to strong sales of firearms, ammunition and other hunting-related merchandise, as well as higher product margins and decreased operating costs.
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