NeuStar: Costly Acquisition Strengthens Bear Case
John Zhang • 17 Comments
John Zhang • 17 Comments
Neustar: 80%+ Downside Within 13 Months
John Zhang • 40 Comments
John Zhang • 40 Comments
Thu, Oct. 27, 5:40 PM
Thu, Oct. 27, 4:21 PM
Wed, Oct. 26, 5:35 PM
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Thu, Jul. 28, 4:20 PM
Wed, Jul. 27, 5:35 PM
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Tue, Jun. 21, 5:35 PM
Tue, Jun. 21, 8:01 AM
- Neustar (NYSE:NSR) +2.4% premarket after announcing plans to split into two publicly traded companies through a tax-free spinoff.
- One of the companies will consist of most of NSR's information services, and the other, which will keep the Neustar name and brand, will focus on providing order management and numbering services.
- NSR CEO Lisa Hook will serve as Pesident and CEO of the information services company, while CFO Paul Lalljie will take over as President and CEO of the other business.
Thu, Apr. 28, 5:35 PM
Thu, Apr. 28, 4:25 PM
- NeuStar (NYSE:NSR): Q1 EPS of $1.06 misses by $0.12.
- Revenue of $287.29M (+14.3% Y/Y) misses by $1.22M.
Wed, Apr. 27, 5:35 PM
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Fri, Feb. 5, 12:06 PM
- Neustar's (NYSE:NSR) Q4 beat was accompanied by guiding for 2016 revenue of $1.22B-$1.26B (+16%-20% Y/Y, boosted by acquisitions) and EPS of $5.03-$5.39, in-line with a consensus of $1.24B and $5.20. Nonetheless, shares have tumbled on a day the Nasdaq is down 2.4%.
- Business performance: Marketing services revenue +23% Y/Y to $51.1M. Security Services +12% to $44.8M. Data Services +7% to $55.9M. Number portability services +8% to $128.4M.
Financials: Operating expenses rose 30% Y/Y to $231.9M, thanks partly to M&A-related expenses and fees related to Neustar's common short codes contract; for the full year, opex rose 9% to $763.4M. $104.2M was spent in 2015 to buy back 3.8M shares at an average price of $27.65.
2015 free cash flow totaled $323.2M. Thanks to acquisitions and buybacks, Neustar ended 2015 with just $89.1M in cash, and $1.11B in debt.
- Neustar's Q4 results, earnings release
Thu, Feb. 4, 4:25 PM
- NeuStar (NYSE:NSR): Q4 EPS of $1.46 beats by $0.21.
- Revenue of $280.15M (+11.0% Y/Y) beats by $3.95M.
Wed, Feb. 3, 5:35 PM
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Thu, Jan. 28, 1:13 PM
- Neustar (NYSE:NSR) has soared on volume of 2.22M shares, well above a 3-month daily average of 734K.
- Possibly helping: North American Portability Management LLC held a webcast yesterday afternoon to discuss the pending transition (announced last year) of local number porting management from Neustar to Ericsson's Telcordia unit. The webcast suggests the transition won't be finished until early 2017.
- Neustar's Q4 report arrives on the afternoon of Feb. 4.
Dec. 9, 2015, 5:02 PM
- Neustar (NYSE:NSR) expects 2016 revenue of $1.16B-$1.2B (+11%-15% Y/Y) and EPS of $4.79-$5.15 (+5%-13%) vs. a consensus of $1.19B and $5.06.
- Information Services revenue is expected to rise 21%-29% to $655M-$695M. Cloud marketing analytics software firm MarketShare, which Neustar has now finished acquiring for $450M, is expected to contribute at least $90M to Information Services' revenue.
- Neustar's guidance assumes the company will remain the U.S. local number portability administrator in 2016 (previous), and doesn't account for its pending $220M acquisition of caller ID service assets from TNS. Shares haven't yet moved after hours.
- Update (5:10PM ET): Neustar is now up 9.3% after hours.
Nov. 5, 2015, 7:03 PM
- Neustar (NYSE:NSR) is buying MarketShare Partners, a provider of cloud-based analytics software for optimizing and gauging the effectiveness of marketing campaigns, for $450M. The effective purchase price drops to $390M after accounting for tax benefits. With MarketShare having revenue of $57M for the 12 months ending in September, Neustar is paying 6.8x trailing sales based on the effective price.
- Neustar: "Utilizing sales, marketing, macroeconomic, and its customers' proprietary data, MarketShare quantifies the sales impact for leading brands such as MasterCard, Turner Broadcasting System, Intel, USAA, CarMax, and Twitter ... The acquisition of MarketShare expands Neustar's leadership in marketing services by creating a comprehensive data-driven solution enabling CMOs to plan, optimize, and allocate their online and offline marketing budgets."
- The purchase targets a broader $19B marketing data/analytics market - Adobe announced a marketing analytics acquisition earlier today - and comes amid with CMOs gradually growing their share of corporate IT spending. Neustar's Marketing Services revenue grew 20% Y/Y in Q3 to $31.1M.
- Neustar has been in an acquisition-hungry mood this year, as it tries to lower its dependence on number-porting revenue. It has already spent $220M to buy caller authentication assets from TNS, and $87M to buy Australian domain name registry Bombora Technologies.
- Shares have fallen to $29.00 after hours.