(CSTR) Coinstar Inc. – Revenue up 43% From Same Period Last Year

October 8th, 2009

Coinstar Inc (CSTR) analysts continue to raise estimates as the self-service kiosks are pulling in some major coin.

Company Description

Most of you are probably familiar with the Coinstar machines at local grocery stores. For anyone who has not seen these machines, they are about the size of an ATM and allow customers to convert accumulated change into cash or gift certificates. Coinstar then takes out a processing fee.

Additionally, the company owns the growing number of “Redbox” kiosks that offer self-service DVD rentals. Coinstar also operates other various self-service kiosks.

Revenue up 43%

Last quarter the company posted revenue of $314 million, a 43% jump from the $220 in the same period last year. Net income more than doubled to $7.0 million, up from $2.7 million.

These numbers yielded earnings per share of 23 cents, topping the Zacks Consensus Estimate by 6 cents. This was the third surprise in the past 4 quarters. Coinstar missed by a penny 2 quarters ago.

Raising the Bar

In the same press release, management also raised guidance for the remainder of the year and analysts were not far behind. The full-year Zacks Consensus Estimate for 2009 is up 25 cents to 99 cents since the report.

Next year’s estimates are averaging $1.62, up 31 cents in that same time frame. These levels would show year-over-year growth of 68% and 64%, respectively.

The Chart

Shares of CSTR have shown some volatility lately, but have a solid earnings history. In addition, the consensus estimates have never been higher. Take a look at the chart below.


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