Signify: shares trade lower despite 'solid' numbers
(CercleFinance.com) - Dutch lighting group Signify posted "solid" first-quarter results, but this performance has failed to lift its shares in Amsterdam this Friday.
First-quarter net income more than doubled to 44 million euros, from 20 million euros in the first quarter of 2018, on sales that slipped slightly (-1.5%) to 1.5 billion euros.
For 2019, Signify said that it aims to report an adjusted EBITA margin of 11% to 13%, which it set at the time of its IPO in May 2016.
In the past quarter, the group's adjusted EBITA margin improved by 80 bais points to 7.8%.
"We think that the first-quarter results are mostly solid but the shares had a good run and professional needs to start beating to take the shares even higher," UBS analysts commented this morning.
The Signify shares were down 2.7% at 26.1 euros. They have risen over 27% so far this year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
First-quarter net income more than doubled to 44 million euros, from 20 million euros in the first quarter of 2018, on sales that slipped slightly (-1.5%) to 1.5 billion euros.
For 2019, Signify said that it aims to report an adjusted EBITA margin of 11% to 13%, which it set at the time of its IPO in May 2016.
In the past quarter, the group's adjusted EBITA margin improved by 80 bais points to 7.8%.
"We think that the first-quarter results are mostly solid but the shares had a good run and professional needs to start beating to take the shares even higher," UBS analysts commented this morning.
The Signify shares were down 2.7% at 26.1 euros. They have risen over 27% so far this year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.