Precision Castparts Corp. Receives Consensus Recommendation of “Buy” from Analysts (NYSE:PCP)
Shares of Precision Castparts Corp. (NYSE:PCP) have received a consensus rating of “Buy” from the eighteen brokerages that are currently covering the stock, American Banking and Market News reports. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $285.53.
Precision Castparts Corp. (NYSE:PCP) opened at 244.06 on Thursday. Precision Castparts Corp. has a 52-week low of $212.56 and a 52-week high of $275.09. The stock has a 50-day moving average of $241.5 and a 200-day moving average of $252.0. The company has a market cap of $35.016 billion and a price-to-earnings ratio of 19.48.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, July 24th. The company reported $3.32 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $2.88 earnings per share. Precision Castparts Corp.’s revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that Precision Castparts Corp. will post $13.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Investors of record on Friday, September 5th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend is Wednesday, September 3rd.
A number of analysts have recently weighed in on PCP shares. 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.
In other Precision Castparts Corp. news, VP Kenneth Buck unloaded 42,500 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $241.39, for a total value of $10,259,075.00. The sale was disclosed in a filing with the SEC, which is available at this link.
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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