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KBR (NYSE:KBR) dropped 10.3% on Thursday following a weaker than expected earnings announcement, AmericanBankingNews.com reports. The company traded as low as $23.17 and last traded at $23.60, with a volume of 8,791,678 shares trading hands. The stock had previously closed at $26.32.

The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.67. The company had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 10.7% on a year-over-year basis.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 11th.

Several analysts have recently commented on the stock. Analysts at Alembic Global Advisors initiated coverage on shares of KBR in a research note on Thursday, June 12th. They set an “overweight” rating and a $32.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of KBR from $34.00 to $33.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. Finally, analysts at Credit Agricole reiterated an “outperform” rating on shares of KBR in a research note on Thursday, April 10th. They now have a $32.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. KBR currently has an average rating of “Buy” and an average target price of $34.07.

The stock’s 50-day moving average is $24.59 and its 200-day moving average is $28.37. The company has a market cap of $3.520 billion and a P/E ratio of 52.64.

KBR, Inc (NYSE:KBR) is a global engineering, construction and services company supporting the energy, hydrocarbons, Government services, minerals, civil infrastructure, power, industrial and commercial markets.

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