KBR Rating Reiterated by DA Davidson (KBR)
KBR (NYSE:KBR)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a report released on Friday. They currently have a $30.00 target price on the stock, down from their previous target price of $38.00. DA Davidson’s price objective would indicate a potential upside of 22.65% from the stock’s previous close.
The analysts wrote, “KBR reported a first quarter loss of $0.29 per share, substantially below our expectations due to project losses and other operating issues. Please see our previous variance report. Errors discovered in the 2013 financial results related to project loss recognition delayed the Q1 report. Additionally, backlog at the end of the quarter slipped further due to low bookings activity, but remains at a relatively high level. Despite the losses, the company continues to maintain a very secure financial position with no debt and substantial cash.”
KBR (NYSE:KBR) opened at 24.26 on Friday. KBR has a 52-week low of $22.48 and a 52-week high of $36.70. The stock’s 50-day moving average is $24.57 and its 200-day moving average is $28.34. The company has a market cap of $3.594 billion and a P/E ratio of 48.92.
KBR (NYSE:KBR) last issued its quarterly earnings data on Thursday, June 19th. 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. On average, analysts predict that KBR will post $1.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, June 11th.
KBR has been the subject of a number of other recent research reports. Analysts at Barclays cut their price target on shares of KBR from $35.00 to $31.00 in a research note on Friday. Separately, analysts at Credit Suisse cut their price target on shares of KBR from $34.00 to $30.00 in a research note on Friday. Finally, analysts at Jefferies Group cut their price target on shares of KBR from $33.00 to $30.00 in a research note on Friday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.57.
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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