CompoSecure Analysts Boost Their Forecasts Following Earnings Beat

CompoSecure, Inc. CMPO reported better-than-expected fourth-quarter financial results on Wednesday.

CompoSecure posted adjusted earnings of 26 cents per share, beating market estimates of 23 cents per share. The company’s quarterly sales came in at $99.90 million versus expectations of $96.49 million, according to data from Benzinga Pro.

“Our fourth quarter provided a strong close to 2023, capping off another year of record revenue and profitability. In addition, profitability was in-line with our original guidance issued in March 2023,” said Jon Wilk, President and CEO of CompoSecure. “Sustained U.S. customer demand continued to drive our domestic net sales, which highlighted a record quarter and was up 9% for the year."

Mr. Wilk added, "Looking ahead, we expect to maintain a strategic approach to capital allocation that continues to focus on driving organic growth and paying down debt but now also includes additional flexibility to repurchase securities or other opportunities to deliver shareholder value. We believe CompoSecure is well-positioned for another record year as we execute on our growth and profitability objectives.”

CompoSecure said it sees FY24 net sales of $408 million to $428 million, versus estimates of $417.71 million.

CompoSecure shares closed at $4.70 on Wednesday.

These analysts made changes to their price targets on CompoSecure after the company reported quarterly results.

• B. Riley Securities raised the price target on CompoSecure from $14 to $17. B. Riley Securities analyst Steve Moss maintained a Buy rating.
• Benchmark boosted the price target on CompoSecure from $7 to $8. B Benchmark analyst Mark Palme maintained a Buy rating.

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