Why Hillenbrand Stock Is Down Big Today
Diversified manufacturer Hillenbrand (NYSE: HI) grew revenue and topped earnings expectations in its most recent quarter but warned of a slowdown up ahead. Investors are forward looking, sending the company's stock down 14% as of 12:30 p.m. ET Wednesday.
Hillenbrand is perhaps best known as the parent of casket-maker Batesville, but the company also has a large plastics and molding technology unit that makes industrial products for a range of end markets.
The company earned $0.76 per share in the quarter, a penny above the consensus estimate, despite revenue that came in about $25 million short of expectations at $785.3 million. Revenue was up 14% year over year, including acquisitions, though organic revenue was down 5% due to lower volumes in its molding business.
Source Fool.com
Hillenbrand Inc. Stock
The community is currently still undecided about Hillenbrand Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 50 € shows a positive potential of 21.95% compared to the current price of 41.0 € for Hillenbrand Inc..
