Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Merrill Lowers DST Systems to 'Near-Term Accumulate'


Merrill Lynch downgraded DST Systems (DST) to near-term accumulate from buy.

Analyst Stephen McClellan says he's trimming the $1.60 2001 EPS estimate to $1.59, and cutting the $1.95 2002 estimate to $1.86 to reflect the September 11 disruption and the delay in new mutual fund shareholder account contract signings, as well as a revenue ramp up.

McClellan says Output Solutions statement processing may continue to be impacted as processing volumes are diminished by a slowdown in financial markets and the economy. He notes revised EPS estimates still reflect double-digit earnings growth and respectable performance amidst current conditions. McClellan says his 2002 EPS estimate includes the $0.06 FASB 142 benefit. He now sees 2002 revenues up 14%, not 16%. McClellan maintains his long-term buy rating.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus