Octave falls after FY revenue forecast slightly misses estimates
OCTV•Octave Specialty expects fiscal-year revenue of $1.64 billion to $1.66 billion, with the midpoint slightly below analyst estimates of $1.651 billion; third-quarter revenue beat estimates, while adjusted EPS was in line.
1. Forecast and results
Octave Specialty expects fiscal-year revenue of $1.64 billion to $1.66 billion, with the midpoint slightly below analyst estimates of $1.651 billion. Third-quarter revenue was $415 million, above estimates of $401.94 million, and adjusted EPS was 32 cents, in line with projections.
2. Shares and ratings
The stock fell 2.7% to $20.67. Of six brokerages rating the stock, three rate it buy or higher and three hold; the median price target is $21.
