InterOil Stock Rating Lowered by TheStreet (IOC)
InterOil (NYSE:IOC) was downgraded by research analysts at TheStreet from a “hold” rating to a “sell” rating in a report released on Wednesday, American Banking & Market News reports.
The analysts wrote, “InterOil Corporation (IOC) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, feeble growth in its earnings per share, unimpressive growth in net income, poor profit margins and weak operating cash flow.”
IOC has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of InterOil in a research note to investors on Friday, December 6th. They now have a $105.00 price target on the stock. Finally, analysts at Zacks upgraded shares of InterOil from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 15th. They now have a $65.60 price target on the stock.
InterOil (NYSE:IOC) traded up 2.30% on Wednesday, hitting $46.23. 254,023 shares of the company’s stock traded hands. InterOil has a 52-week low of $43.85 and a 52-week high of $106.44. The stock’s 50-day moving average is $65.49 and its 200-day moving average is $71.09. The company has a market cap of $2.262 billion and a price-to-earnings ratio of 806.96.
InterOil (NYSE:IOC) last announced its earnings results on Monday, November 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.06. The company had revenue of $305.24 million for the quarter, compared to the consensus estimate of $322.40 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect that InterOil will post $-0.27 EPS for the current fiscal year.
InterOil Corporation (NYSE:IOC) is an integrated energy company operating in Papua New Guinea and its surrounding Southwest Pacific region.
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