Black Box Stock Price Down 5.3% on Disappointing Earnings (BBOX)
Shares of Black Box (NASDAQ:BBOX) were down 5.3% on Wednesday following a weaker than expected earnings announcement, StockRatingsNetwork.com reports. The company traded as low as $20.24 and last traded at $21.32, with a volume of 56,144 shares traded. The stock had previously closed at $22.51.
The company reported $0.41 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $0.02. The company had revenue of $245.20 million for the quarter, compared to the consensus estimate of $241.78 million. During the same quarter last year, the company posted $0.54 earnings per share. Black Box’s revenue was down .7% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Sidoti downgraded shares of Black Box from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. Separately, analysts at TheStreet downgraded shares of Black Box from a “hold” rating to a “sell” rating in a research note on Monday, May 12th.
The stock has a 50-day moving average of $22.64 and a 200-day moving average of $24.. The company’s market cap is $336.5 million.
Black Box Corporation (NASDAQ:BBOX) is a communications system integrator focusing on designing, sourcing, implementing and maintaining communications solutions.
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