United Stationers To Report 4Q Earnings On 2/10

Morgan Keegan has published a research report on United Stationers, Inc. USTR in anticipation of the company's 4Q results, expected on February 10th after market close. In the report, Morgan Keegan writes "We are projecting 4th quarter EPS at $1.00, compared to consensus of $1.06. Our revenue growth is at +0.4%, levels just modestly below the October month corporate growth rate of 1.0%. We believe the differential between our view and consensus largely ties to United's operating cost line, reflecting different views on seasonality, as well as our modestly below Street view on quarterly revenues. Our Q1:11 EPS view of $0.98 remains materially above the two other published estimates which average only $0.86; we project a sharp improvement in 1st quarter revenue growth of +11.7%, whereas the average of the other analysts is at +3.8%. Management is expected to provide sales trends for its January 2011 month within its release/conference call." Morgan Keegan maintains its Market Perform rating and has raised the price target from $63 to $70. United Stationers closed yesterday at $63.07.