(new: share price and analysts)
FRANKFURT (dpa-AFX) - Pessimistic signals for the current fiscal year have pushed shares of Carl Zeiss Meditec down to their lowest level in almost ten years. At 29.90 euros, the stock traded at its lowest point since June 2016, losing as much as 15 percent.
Following what it described as a surprisingly weak start to the fiscal year, the company warned investors that it is unlikely to meet its annual targets. According to preliminary calculations, revenue in the first quarter fell compared to the same period last year, and operating profit (Ebita) also declined significantly.
Management intends to publish a revised forecast "as soon as possible," but no later than with the half-year figures in mid-May. Until then, uncertainty prevails in the market, frustrating investors.
Analyst Harald Hof of MWB Research withdrew his buy recommendation, citing poor predictability. Expert Jonathon Unwin from Barclays Bank, after consulting with the company, reported a weak US market for microsurgery and diagnostic devices. Expectations for business in both the US and China have had to be scaled back. Unwin hopes for more detailed signals with the final quarterly report in mid-February./ag/mis/jha/
