Coinstar (NASDAQ: CSTR) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
The analysts wrote, “We are upgrading our rating… based on modest upward revisions to our estimates reflecting continued marketshare gains in physical DVD, improved Coin comps and better clarity on opportunities within CSTR’s New Venture businesses. …We have updated our estimates to better reflect the new business ventures within Coffee, Gizmo and ecoATM. Combined, these ventures could become material exiting 2103.”
Shares of Coinstar opened at 60.87 on Thursday. Coinstar has a one year low of $37.43 and a one year high of $69.74. The company has a market cap of $1.868 billion and a P/E ratio of 13.04.
Coinstar last issued its quarterly earnings data on Thursday, April 26th. The company reported $1.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.42 by $0.03. Coinstar’s revenue was up 34.0% compared to the same quarter last year. On average, analysts predict that Coinstar will post $1.12 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Compass Point reiterated a “neutral” rating on shares of Coinstar in a research note to investors on Friday, April 27th. Separately, analysts at Benchmark Co. raised their price target on shares of Coinstar from $75.00 to $85.00 in a research note to investors on Friday, April 13rd. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Coinstar from $75.00 to $90.00 in a research note to investors on Friday, April 13rd. They now have an “outperform” rating on the stock.
Coinstar, Inc. (Coinstar) is a provider of automated retail solutions. Coinstar’s core offerings in automated retail include its digital video disk (DVD) business, where consumers can rent or purchase movies from self-service kiosks (DVD Services segment), and its Coin business, where consumers can convert their coin to cash or stored value products at coin-counting self-service kiosks (Coin Services segment).
