Precision Castparts Corp. Given Average Recommendation of “Buy” by Analysts (NYSE:PCP)
Shares of Precision Castparts Corp. (NYSE:PCP) have earned a consensus recommendation of “Buy” from the eighteen brokerages that are covering the company, AmericanBankingNews.com reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $285.53.
In other Precision Castparts Corp. news, VP Kenneth Buck unloaded 42,500 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $241.39, for a total transaction of $10,259,075.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Precision Castparts Corp. (NYSE:PCP) traded up 0.20% during mid-day trading on Thursday, hitting $243.005. 130,007 shares of the company’s stock traded hands. Precision Castparts Corp. has a 52 week low of $210.79 and a 52 week high of $275.09. The stock has a 50-day moving average of $242.4 and a 200-day moving average of $252.2. The company has a market cap of $34.865 billion and a P/E ratio of 19.44.
Precision Castparts Corp. (NYSE:PCP) last released its earnings data on Thursday, July 24th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by $0.03. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Precision Castparts Corp. will post $13.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 29th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Wednesday, September 3rd.
Several analysts have recently commented on the stock. Analysts at CRT Capital raised their price target on shares of Precision Castparts Corp. from $295.00 to $307.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Precision Castparts Corp. in a research note on Friday, July 25th. They now have a $292.00 price target on the stock, down previously from $312.00. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Precision Castparts Corp. in a research note on Friday, July 25th. They now have a $280.00 price target on the stock, down previously from $300.00.
Precision Castparts Corp. (NYSE:PCP) is a manufacturer of metal components and products, provides investment castings, forgings and fasteners/fastener systems for critical aerospace and industrial gas turbine (IGT) applications.
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