Zacks Upgrades Metalico to Neutral (MEA)
Metalico (NYSE:MEA) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Wednesday, Analyst Ratings Network reports. The firm currently has a $1.50 target price on the stock.
Shares of Metalico (NYSE:MEA) traded down 1.33% on Wednesday, hitting $1.48. The stock had a trading volume of 58,141 shares. Metalico has a one year low of $1.15 and a one year high of $2.55. The stock’s 50-day moving average is $1.40 and its 200-day moving average is $1.44. The company’s market cap is $71.1 million.
Metalico (NYSE:MEA) last announced its earnings results on Friday, August 9th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.05. The company had revenue of $130.00 million for the quarter, compared to the consensus estimate of $139.50 million. During the same quarter last year, the company posted $0.06 earnings per share. Metalico’s revenue was down 12.3% compared to the same quarter last year. Analysts expect that Metalico will post $-0.11 EPS for the current fiscal year.
Metalico, Inc (NYSE:MEA), operates in three business segments: ferrous and non-ferrous scrap metal recycling, Scrap Metal Recycling), platinum group and minor metals recycling (PGM and Minor Metals Recycling) and lead metal product fabricating (Lead Fabricating).
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.