Blount International Stock Price Up 4.6% on Strong Earnings (BLT)
Blount International (NYSE:BLT) rose 4.6% during mid-day trading on Friday following a stronger than expected earnings report, AnalystRatings.Net reports. The stock traded as high as $11.53 and last traded at $11.51, with a volume of 81,985 shares. The stock had previously closed at $11.00.
The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $232.60 million for the quarter, compared to the consensus estimate of $219.61 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Blount International from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $11.80 price target on the stock.
The stock has a 50-day moving average of $11.61 and a 200-day moving average of $12.79. The company has a market cap of $568.6 million and a P/E ratio of 112.24.
Blount International, Inc (NYSE:BLT) is a global industrial company.
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