Infrastructure software analyst doesn’t stay on for second Raymond James stint
Apr 9, 2012 1:48 PM
Stephens Inc. analyst Andreas Dirnagl has lowered his 2011 earnings per share estimate for Nashville's AmSurg — to $1.66 from a $1.78 — on expectations of continued volume weakness and delays in closing some clinic acquisitions. AmSurg (Ticker: AMSG) last week reported fourth quarter 2010 and year-end financial results that included a slight improvement in same-store results, given that volumes were flat instead of down. Dirnagl wrote in a research note to investors last week: "We note that 2011 would represent the third year of effectively flat/negative EPS growth, meaning that AMSG (and its holders) has been effectively running in place for an extended period of time."
Feb 28, 2011 1:49 PM
Stock plummets as company says it won't issue 2010 guidance until January; 'You've got to give me a break'
Oct 28, 2009 12:05 PM
Almost $16 million in school work, the cost of Emdeon's data center, two MOB jobs at HCA sites, and more...
Sep 25, 2009 12:44 PM
Wednesday’s Pinnacle Financial earnings conference call ended on a chilling note when Stephens Inc. analyst Matt Olney asked CEO Terry Turner to compare his bank’s bad-loan levels with those of competitors in Nashville. “My belief is that our credit quality is better,” Turner said. “Other operators in this market have been taking significant losses over an extended period of time… We’re later getting to the table.” That’s pretty strong stuff when you consider that Pinnacle’s nonperforming asset ratio ballooned to 3.3 percent in the first half and is quite a bit higher than most Nashville-area banks’. (Generally, bankers start to get nervous when their NPAs approach 2 percent. For the parent of GreenBank, the number now stands at almost 5 percent.) But if Turner’s right, it means many of his Middle Tennessee peers — who were much more aggressive than Pinnacle in pursuing land development deals during the boom — still aren’t owning up to many of their credit problems. And Turner isn’t upbeat about the region’s real estate sector. Asked what he’s hearing from the trenches, he was blunt. "In the case of real estate, the sentiment would be awful. You wouldn't find any optimism among builders, among developers, among folks that loan to them,” he said. “There’s some activity, but you couldn’t translate that into optimism." Banks around the country that relied on lending to homebuilders are now gasping for air. And, while we don’t really want to admit it, parts of Greater Nashville look a good bit like parts of Greater Atlanta, where a fistful of banks have gone under this year. Given a little more time, why should our situation be all that different? Without getting too dramatic, it’s time to start preparing for the first Middle Tennessee bank failure of this crisis. One Friday afternoon soon, the friendly folks at the FDIC will unveil their first Tennessee intervention, adding to a 2009 list that now stands at 57. And oh, by the way, in case you had the thought: Don’t look for Pinnacle to be a buyer when that happens. Turner on Wednesday told analysts his team is “not particularly interested in FDIC workouts.” That’s not terrible surprising, since he also said most of his crew's current credit quality troubles stem from the acquisitions of Cavalry Banking and Mid-America Bancshares.
Jul 23, 2009 6:47 AM
Speaking at a Stephens Inc. investment conference earlier this week, Pinnacle Financial CEO Terry Turner offered a quick take on the Nashville-area economy, saying its Achilles heel continues to be the housing market.
“I don’t think we’ve found a bottom on the median home price. It’s probably going to be off another 10 percent this year.”
Jun 5, 2009 12:33 AM
Ex-leader of Arkansas financial house's Nashville office takes executive position with cancer venture
May 6, 2009 2:37 PM
Stephens analyst predicts sell-off of struggling Triad facilities by Community Health, Vanguard close to building new Arizona facility, new bill from congress will whack hedge funds with a hefty tax hike, and more...
Jun 25, 2007 10:15 AM
Predict hospital-company consolidation, upheaval in ASC business models
Jan 19, 2006 10:04 PM