OSI Systems Inc – Aggressive Growth – Zacks Rank Buy
Source: http://www.zacks.com/commentary/10861/OSI+Systems+Inc+-+Aggressive+Growth+-+Zacks+Rank+BuyPosted on Tuesday, May 12th, 2009 | In Market Commentary, Stocks to Watch
OSI Systems, Inc. (OSIS) shares are surging after a consolidation as the company headed into its latest earnings announcement.
Company Description
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OSI Systems, Inc. is a designer and provider of components, subsystems and end-products based on optical and electromechanical pressure sensor technologies. The company’s product range focuses on the fiber optics and high speed telecommunications for Gigabit Ethernet and Fibre Channel, Security and Inspection and Medical Diagnostics industries. OSI is also in the office automation, aerospace, computer peripherals and industrial automation industries.
EPS Up 20%
On Apr 30 OSI reported quarterly-results for the third quarter of fiscal 2009 that included earnings per share of 24 cents. This was a 20% year-over-year increase and beat the consensus estimate by 4 cents.
OSI also increased the lower range of its earnings forecast to $0.85, up from $0.81. The company expects 15-15% growth or earnings per share of between $0.85 and $0.93. The consensus estimate for 2009 is the currently at the center of the range, or $0.89.
Double-Digit Growth
The full-year consensus for fiscal 2010 is now $1.09, up 2 cents since the earnings report. Year-over-year earnings growth is projected to be 20% for fiscal 2009 and another 23% in 2010.
Share may look over valued with at 20 times earnings, but the PEG ratio is 1.0, indicating a fair value for the current forecasted growth rates.
The Chart
OSIS shares broke above the $17.50 level after a few attempts but hesitating heading into the latest earnings report. Take a look at the chart below.
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