Erickson (EAC) Posts Quarterly Earnings, Misses Estimates By $0.40 EPS
Erickson (NYSE:EAC) posted its quarterly earnings results on Thursday. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.13 by $0.40, American Banking & Market News reports. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $86.77 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Erickson updated its FY14 guidance to $0.35-$0.75 EPS.
Erickson (NYSE:EAC) traded up 0.68% on Thursday, hitting $14.73. 11,450 shares of the company’s stock traded hands. Erickson has a one year low of $14.10 and a one year high of $21.94. The stock’s 50-day moving average is $15.46 and its 200-day moving average is $17.38. The company has a market cap of $203.4 million and a P/E ratio of 55.63.
Several analysts have recently commented on the stock. Analysts at BWS Financial initiated coverage on shares of Erickson in a research note on Friday, June 20th. They set a “buy” rating and a $33.00 price target on the stock. On the ratings front, analysts at Imperial Capital cut their price target on shares of Erickson from $20.00 to $17.00 in a research note on Tuesday, May 13th. They now have an “in-line” rating on the stock. Finally, analysts at Singular Research cut their price target on shares of Erickson from $26.00 to $24.00 in a research note on Monday, May 12th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $24.40.
Erickson Inc (NYSE:EAC), formerly Erickson Air-Crane Incorporated, is engaged in the operation and manufacture of the Erickson S-64 Aircrane (Aircrane), a heavy-lift helicopter.
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