Jarden releases prelim revenue estimates
Jarden Corp. (NYSE: JAH), parent of Coleman, Marmot, K2 and Marker, released preliminary results, saying it expects fourth-quarter revenue of at least $1.65 billion.
The company added that the record performance is based on continued strong organic revenue growth and contribution from acquisitions.
For the full year, Jarden expects revenue of at least $6 billion. Full year cash from operations is expected to exceed $250 million.
Commenting on the preliminary results, Martin Franklin, chairman and CEO of Jarden, said in a statement, "The improving consumer environment combined with the investments made in the business and the tuck-in acquisitions completed throughout the year resulted in record sales and segment earnings performance."
Analyst firm upgrades Cabela’s
Cabela’s (NYSE: CAB) was upgraded by Piper Jaffray to "overweight" on improved credit card profitability, firearm and ammunition trends and better merchandise margins.
With hunting equipment accounting for 43 percent of the company’s total retail sales, a continued improvement in firearm sales would benefit Cabela's, Piper Jaffray wrote in a client note.
In November, the company lowered charge-offs to a range of 4.25 percent to 4.50 percent from 5 percent to 5.50 percent earlier.
The brokerage sees earnings for the year increasing by $0.06 for every 25 basis points of net charge-off. It is also raising Cabela's price target to $29 from $24.
--Compiled by Wendy Geister
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