Rockwood Holdings Downgraded by Merrill Lynch to “Neutral” (ROC)
Rockwood Holdings (NYSE:ROC) was downgraded by investment analysts at Merrill Lynch from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, ARN reports.
A number of other analysts have also recently weighed in on ROC. Analysts at Bank of America Corp. downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $73.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 19th. They now have a $78.00 price target on the stock, down previously from $80.00. Finally, analysts at Deutsche Bank downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. They now have a $70.00 price target on the stock, down previously from $77.00. They noted that the move was a valuation call.
One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.70.
Shares of Rockwood Holdings (NYSE:ROC) traded up 0.67% during mid-day trading on Tuesday, hitting $66.60. 585,183 shares of the company’s stock traded hands. Rockwood Holdings has a 1-year low of $42.02 and a 1-year high of $69.60. The stock has a 50-day moving average of $65.22 and a 200-day moving average of $65.18. The company has a market cap of $4.975 billion and a P/E ratio of 39.19.
Rockwood Holdings (NYSE:ROC) last announced its earnings results on Monday, August 5th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.13. The company had revenue of $972.30 million for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter last year, the company posted $1.24 earnings per share. Rockwood Holdings’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Rockwood Holdings will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 26th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, September 9th. This is a positive change from Rockwood Holdings’s previous quarterly dividend of $0.40.
Rockwood Holdings, Inc (NYSE:ROC) is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes.
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