Tags: SodaStream | Shares | Sales | Estimates

SodaStream Shares Plunge as Sales Miss Estimates

Wednesday, 30 Oct 2013 05:41 PM

SodaStream International Ltd., the Israeli maker of home soda machines, plunged the most since February 2012 after the company reported third-quarter sales that trailed analysts’ estimates.

Shares of Lod, Israel-based SodaStream sank 11 percent to $56.87. About 4 million shares traded Wednesday, more than four times the average volume during the last 90 days. Ten-day volatility on the stock more than tripled to 66.8 Wednesday, the highest since May.

Revenue for the three-month period ending Sept. 30 was $144.6 million, SodaStream said, below the $145.2 million mean estimate of nine analysts surveyed by Bloomberg. It was the first time that SodaStream missed analyst estimates on on revenue since the company’s initial public offering in November of 2010. Net income fell 2.2 percent to $16.39 million from a year ago, the company said.

“The stock will be weak today given the lack of a beat on the top line and the lack of a raise to guidance,” Wendy Nicholson, an analyst at Citigroup Global Markets Group Inc., wrote in a note to clients Wednesday. “For a company that is putting up such strong growth, we think the stock deserves to trade even higher than its current valuation. We would take weakness in the stock today as a buying opportunity.”

© Copyright 2017 Bloomberg News. All rights reserved.

   
1Like our page
2Share
InvestingAnalysis
Shares of SodaStream International Ltd., the Israeli maker of home soda machines, plunged the most since February 2012 after the company reported third-quarter sales that trailed analysts' estimates.
SodaStream,Shares,Sales,Estimates
208
2013-41-30
Wednesday, 30 Oct 2013 05:41 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved