Research Library
Below is our research library, listed in reverse chronological order. Please use the search box to look for research on a specific company or topic, or use the Calendar, Archives, or Sector links at left to browse for research from a specific time period or sector. If you are a Wolfe Trahan client and can not access any of the links in our library, please contact ITSupport@WolfeResearch.com to request our PDF decryption plug-in.
CPA: 1Q12 Earnings
CPA reported 1Q12 EPS last night of $2.04 (ex-items) vs. the consensus estimate of $2.03, and we wrote a note recapping the quarter. In it we raised our target price and EPS estimates. CPA hosted a call with analysts this morning. Following the upbeat call we are keeping our EPS estimates the same from yesterday (we are still well above consensus) and reiterating our Outperform rating and $118 target price.
CPA: 1Q12 Initial Thoughts
EPS ex-items of $2.04 was above the consensus estimate of $2.03 but below our overly optimistic estimate of $2.18. CPA also declared a dividend payout of 30% of last year’s net income – the high end of the company’s target range of 20% to 30%. CPA beat us on revenue but missed us on costs, spread throughout the P&L. Based on updated guidance we expect consensus estimates to increase sharply.
Research Library
- Coverage List
- Consolidated Research Library
- Airfreight & Surface Transportation Library
- Portfolio Strategy Library
- Quantitative Analysis Library
- Accounting & Tax Policy Library
- Auto & Truck Manufacturing Library
- Airlines Library
- Conference Calls
- Interactive Doh! Models
- Ed Wolfe Bi-Weekly Freight Update