Precision Castparts Corp. Earnings Estimates Lowered at Jefferies Group (PCP)
Equities research analysts at Jefferies Group cut their EPS estimates on shares of Precision Castparts Corp. (NYSE:PCP) in a research note issued to investors on Wednesday, Analyst RN reports. The firm currently has a “hold” rating and a $235.00 target price on the company’s shares. Jefferies Group’s target price indicates a potential upside of 0.94% from the company’s current price.
A number of other firms have also recently commented on PCP. Analysts at Zacks reiterated a “neutral” rating on shares of Precision Castparts Corp. in a research note to investors on Friday, October 4th. They now have a $243.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Precision Castparts Corp. from $240.00 to $287.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Precision Castparts Corp. in a research note to investors on Wednesday, October 2nd. They now have a $240.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $254.56.
Shares of Precision Castparts Corp. (NYSE:PCP) traded down 1.59% on Wednesday, hitting $229.11. 182,832 shares of the company’s stock traded hands. Precision Castparts Corp. has a 1-year low of $160.78 and a 1-year high of $254.14. The stock’s 50-day moving average is $225.2 and its 200-day moving average is $214.2. The company has a market cap of $33.343 billion and a P/E ratio of 22.50.
Precision Castparts Corp. (NYSE:PCP) last released its earnings data on Thursday, July 25th. The company reported $2.88 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.90 by $0.02. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the company posted $2.35 earnings per share. Precision Castparts Corp.’s revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that Precision Castparts Corp. will post $12.09 earnings per share for the current fiscal year.
Precision Castparts Corp. (NYSE:PCP) is a manufacturer of metal components and products, provides investment castings, forgings and fasteners/fastener systems for critical aerospace and industrial gas turbine (IGT) applications.
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