Steinway Musical Instruments
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Steinway Musical Instruments missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share increased.
Margins increased across the board.
Steinway Musical Instruments reported revenue of $89.3 million. The two analysts polled by S&P Capital IQ hoped for a top line of $92.9 million on the same basis. GAAP reported sales were 0.5% lower than the prior-year quarter's $89.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.35. The two earnings estimates compiled by S&P Capital IQ averaged $0.31 per share. GAAP EPS were $0.33 for Q3 versus -$0.09 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.9%, 400 basis points better than the prior-year quarter. Operating margin was 10.0%, 180 basis points better than the prior-year quarter. Net margin was 4.7%, 590 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $98.8 million. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $355.4 million. The average EPS estimate is $1.07.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 66 members out of 71 rating the stock outperform, and five members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give Steinway Musical Instruments a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Steinway Musical Instruments is outperform, with an average price target of $30.00.
With hundreds of companies out there vying with Steinway Musical Instruments for shoppers' dollars, strong brands matter, and they can provide growth for even boring, mature companies -- as long as they're the right ones. That's why we've compiled a special report on "3 American Companies Set to Dominate the World." Click here for instant access to this free report.
- Add Steinway Musical Instruments to My Watchlist.