1. Central European Distribution Corporation (CEDC), a primary operator in the alcohol beverage industry, produces vodka and is Central and Eastern Europe's integrated spirit beverages business. With operations in Poland, Russia and Hungary, it produces and sells its own brands (principally vodka), and imports of a range of liquors, wines and beers.
For the second quarter of 2011, the company recorded net sales of $212 million as compared to $175.6 million in the same quarter prior year. On a GAAP basis, net profit for the quarter stood at $3 million or 4 cents per fully diluted share, vs. net loss of $70.1 million, or $1 per share in the same quarter last year.
The company's board of directors recently adopted a Rights Agreement in which one preferred stock purchase right will be distributed as dividend on each common share held of record as of close of business on Sept. 19.
For fiscal 2011, the company has updated its net sales guidance range to be $900 million to $1.05 billion from the previous view of $880 million to $1.08 billion. Meanwhile, fully diluted earnings per share are seen in the range of 80 cents to $1.00 from the earlier guidance of $1.05 to $1.25.Of the 18 analysts covering the stock, 22% recommend a buy and 61% suggest a hold. Analysts polled by Bloomberg foresee the stock gaining an average 63.6% to $10.22 over the next 12 months.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV