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Analyst Research Report Snapshot


EPS Beat From Parts & Service Gains




PI Financial Corp


06 Aug 2014





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Rocky Mountain Dealerships (T-RME) $11.02 (Intraday) Recommendation: Buy (unchanged), Target: $13.50 (increased, previously $13.00) EPS Beat From Parts & Service Gains • Rocky Mountain Dealerships reported Q2 FY14 results for the period ended June 30th, 2014. Revenue was up 1.8% to $242M, EBITDA was up 24% to $10.6M and EPS was $0.31 versus $0.23 last year. Dividend increased by 15% - RME now yields 4.2% ($11.02 stock price). • Rocky Mtn beat EPS estimates – EPS was $0.31 versus our estimates of $0.22 and consensus of $0.24. Revenue was up 1.8% to $242M but below our estimates of $243M. • We have increased our gross margin assumption in FY14 and FY15 by 40bps and 30bps respectively but have slightly lowered our revenue estimates. Our EPS estimates increases to $1.10 and $1.26 (previously $1.00 and $1.22) in FY14 and FY15 respectively. • We are increasing our 12-month target price to $13.50 (previously $13.00) and we continue to rate Rocky Mtn with a BUY rating (risk: ABOVE AVERAGE).

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