Dresser-Rand Group Price Target Lowered to $70.00 at Susquehanna (DRC)
Equities research analysts at Susquehanna reduced their price target on shares of Dresser-Rand Group (NYSE:DRC) from $72.00 to $70.00 in a research note issued to investors on Wednesday. Susquehanna’s target price points to a potential upside of 21.11% from the stock’s previous close.
Shares of Dresser-Rand Group (NYSE:DRC) traded down 3.28% during mid-day trading on Wednesday, hitting $57.80. 1,378,659 shares of the company’s stock traded hands. Dresser-Rand Group has a 1-year low of $51.46 and a 1-year high of $71.91. The stock’s 50-day moving average is $62.61 and its 200-day moving average is $59.71. The company has a market cap of $4.428 billion and a P/E ratio of 36.00.
Dresser-Rand Group (NYSE:DRC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.02. The company had revenue of $628.40 million for the quarter, compared to the consensus estimate of $713.46 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 22.0% on a year-over-year basis. Analysts expect that Dresser-Rand Group will post $2.65 EPS for the current fiscal year.
DRC has been the subject of a number of other recent research reports. Analysts at Global Hunter Securities downgraded shares of Dresser-Rand Group from a “buy” rating to an “accumulate” rating in a research note on Wednesday. They now have a $68.00 price target on the stock, down previously from $71.00. Separately, analysts at Robert W. Baird initiated coverage on shares of Dresser-Rand Group in a research note on Tuesday, July 15th. They set a “neutral” rating and a $66.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Dresser-Rand Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $63.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $64.91.
Dresser-Rand Group Inc is a global supplier of of custom-engineered rotating equipment solutions for long-life, critical applications in the oil, gas, chemical, petrochemical, process, power generation, military and other industries worldwide.
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.