URS Corp. Rating Reiterated by DA Davidson (URS)
URS Corp. (NYSE:URS)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research note issued on Friday, Stock Ratings Network reports. They currently have a $60.00 price objective on the stock, up from their previous price objective of $55.00. DA Davidson’s price objective would suggest a potential upside of 15.38% from the stock’s previous close.
The analysts wrote, “Following the company’s recent Board meeting, URS announced a commitment to return at least $500 million to shareholders through share repurchases and/or dividends through 2015. This commitment offers a nearly 13% potential return to shareholders based on current market value. Management further indicated the company does not expect to pursue any major acquisitions. Historically the company has grown through a series of large acquisitions, which have led to increased financial leverage with mixed returns to shareholders. Based on our earnings projections and assumption for cash-flow, we expect the company will be able to fully fund this planned distribution of cash from operations while continuing to substantially reduce debt as previously committed. Our estimates call for $5.00 per share in 2014 which implies free cash flow of $7.85 per share. Please see our recent reports. These estimates do not incorporate benefits from additional share repurchases.”
Shares of URS Corp. (NYSE:URS) traded up 0.48% on Friday, hitting $52.25. The stock had a trading volume of 393,388 shares. URS Corp. has a 52-week low of $33.20 and a 52-week high of $52.00. The stock has a 50-day moving average of $48.90 and a 200-day moving average of $46.82. The company has a market cap of $3.913 billion and a price-to-earnings ratio of 12.24.
URS Corp. (NYSE:URS) last announced its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the company posted $1.00 earnings per share. URS Corp.’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that URS Corp. will post $4.26 earnings per share for the current fiscal year.
A number of other firms have also recently commented on URS. Analysts at Zacks reiterated a “neutral” rating on shares of URS Corp. (NYSE:URS) in a research note to investors on Monday, August 12th. They now have a $50.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of URS Corp. (NYSE:URS) from $44.00 to $47.00 in a research note to investors on Thursday, August 8th. Finally, analysts at Credit Suisse cut their price target on shares of URS Corp. (NYSE:URS) from $51.00 to $50.00 in a research note to investors on Wednesday, August 7th. They now have a “neutral” rating on the stock.
Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.63.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, September 11th.
In other URS Corp. news, Insider Gary V. Jandegian unloaded 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.70, for a total transaction of $202,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
URS Corporation (NYSE:URS) is a provider of engineering, construction and technical services.
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