UTi Worldwide Trading Down 3.2% After Earnings Miss (UTIW)
UTi Worldwide (NASDAQ:UTIW)’s share price traded down 3.2% during trading on Thursday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The stock traded as low as $9.71 and last traded at $9.95, with a volume of 1,895,582 shares traded. The stock had previously closed at $10.28.
The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.04) by $0.05. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.
UTIW has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of UTi Worldwide from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $9.20 price target on the stock. Finally, analysts at Wolfe Research upgraded shares of UTi Worldwide from an “underperform” rating to a “market perform” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. UTi Worldwide has a consensus rating of “Hold” and an average target price of $12.96.
The stock’s 50-day moving average is $9.66 and its 200-day moving average is $13.29. The company’s market cap is $1.040 billion.
UTi Worldwide Inc is a holding company. The Company is an international, non-asset-based supply chain services and solutions company, which provides services through a network of offices and contract logistics centers.
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.