Weight management specialist Weight Watchers International, Inc.
) on Friday said its first quarter profit surged 65% from last
year, beating analyst estimates.
The New York-based company reported first quarter net income of
$73.6 million, or $1 per share, compared with $44.6 million, or 58
cents per share, in the year-ago period.
Revenue rose 5% from last year to $503.4 million.
On average, Wall Street analysts expected a smaller profit of 89
cents per share, on lower revenue of $478.31 million.
Looking ahead, the company boosted its full-year 2011 earnings
guidance to a range of $3.75 to $4 per share, up from a prior
estimate of $3.50 to $3.85. Analysts currently expect $3.70 per
share for the year.
Weight Watchers shares rose $1.04, or +1.4%, in premarket
The Bottom Line
Shares of Weight Watchers (
) have a .93% dividend yield, based on last night's closing stock
price of $74.96. The stock has technical support in the $65-$71
price area. If the shares can firm up, we see overhead resistance
around the $79 all-time high levels.
Weight Watchers International, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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