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IBI Group Inc T.IBG.DB.E

Industrials
IBI Group Inc. is a global design and technology company. The Company offers a range of services, including architectural controls, architecture, bridge engineering, civil engineering, construction management, data analytics, design technology, development engineering, economics/financial analysis, electrical engineering, energy solutions, engineering, environmental assessment, geomatics/land surveying, highway and road design, and indigenous engagement and relations. The Company¿s services also include interiors, land use planning, landscape architecture, mechanical engineering, municipal infrastructure, operations and maintenance, parametric design, placemaking, planning and urban design, public outreach, research and development, software development, systems engineering, traffic engineering, transit planning, transportation engineering, visualization, water resources management, and water/wastewater. The Company has over 60 offices in major urban centers across the globe.


TSX:IBG.DB.E - Post by User

IBI Group Inc
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Post by SweetPeteon Nov 14, 2016 11:01am
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Post# 25456954

LB's Mona's comments

LB's Mona's comments
 
IBI Q3/16 Results: EBITDA In Line with Estimates, EPS Beat, Taking up TP to $8.00
IBI Group Inc. (IBG-T)
Rating: Buy – Target: $8.00 Price: $6.26
Mona Nazir, MBA, Analyst (NazirM@lb-securities.ca; 514-350-2964)
 
Impact: Slightly positive.
Revenue and EBITDA in line, EPS beat. 
Following strong Q2/16 results, IBI showed continuing momentum in Q3/16 with the highest organic growth in our engineering coverage universe. Management maintained their 2016 guidance at $350M.
Revenue for Q3 came in at $88.2M (up 5.3% YoY) compared to $83.8M in Q3/15 and our $87.1M estimate. 
Adj. EBITDA of $10.2M in line our / consensus estimate of $10.1M. Margins of 11.6% (in line with our forecast) illustrated a 30 bps improvement YoY and came at the higher end of management’s targeted range of 8-12%.
We reiterate our Buy rating while our TP increases to $8.00, from $7.00 previously. 
 
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