Zacks Investment Research upgraded
Edwards Group Limited
) to a Zacks Rank #1 (Strong Buy) on Jun 25, 2013.
Why the Upgrade?
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Edwards Group's shares rose 6.4% since the industrial technology
company reported its financial result for the first quarter of
2013 on Apr 30. Results showed remarkable improvement when
compared with its sequential quarter. Adjusted net earnings, in
local currency, grew 31.7% sequentially.
Revenues, in local currency, recorded an increase of 9.7% on the
back of healthy performance in the company's Semiconductor and
Emerging Technology business. This increase, to some extent,
offset the softness in General Vacuum and Service business
Edward Group recorded an increase of 580 basis points in gross
margin that came in at 36.2%. Cost saving initiatives helped the
company boost its operating margin.
Management of Edwards Group provided an encouraging outlook for
the second quarter of 2013. At mid-points, revenues are expected
to grow 5.8% from its sequential quarter while adjusted net
income is expected to exhibit a 25% increase sequentially. Demand
for semiconductors is likely to remain strong in the quarter.
The Zacks Consensus Estimate for 2013 and 2014 are 86 cents and
$1.30, reflecting an increase of 16.2% and 5.7%, respectively in
the last 60 days.
Other Stocks to Consider
Edwards Group currently has $904 million market capitalization.
Other stocks that are worth a look in the industry are
Broadwind Energy, Inc.
). All these companies carry a Zacks Rank #2 (Buy).