KBR, Inc. (KBR) Upgraded at Zacks Investment Research
KBR, Inc. (NYSE:KBR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “KBR’s Government Services business is experiencing stellar growth and the company remains confident that recent acquisitions will continue to accelerate growth momentum of this business. Organic growth from contracts with the U.S. Military proved to be the main driving force for the top-line improvement. The company’s acquisitions in the Government Services segment continued to accelerate growth of the business. In addition, KBR is optimistic about backlog growth in the fourth quarter and early 2018 due to the pipeline of opportunities. On the flip side, the long-cycle nature of the contracts, volatility in material & equipment pricing, risk of client loss and stiff competition raise caution. Over the past one year, KBR’s shares have underperformed the industry’s average gain significantly. Moreover, KBR continues to incur high general and administrative expenses which are about $4-$5 million above the normative level.”
A number of other equities analysts have also recently issued reports on KBR. BidaskClub cut shares of KBR from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet upgraded shares of KBR from a “d+” rating to a “c-” rating in a research report on Thursday, August 3rd. Finally, KeyCorp set a $20.00 price objective on shares of KBR and gave the stock a “buy” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.00.
KBR (NYSE:KBR) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. KBR had a negative net margin of 0.81% and a positive return on equity of 8.74%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, equities analysts forecast that KBR will post $1.43 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in KBR. UBS Asset Management Americas Inc. increased its position in KBR by 15.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 136,772 shares of the construction company’s stock valued at $2,056,000 after acquiring an additional 18,489 shares during the period. Karp Capital Management Corp acquired a new position in KBR in the 1st quarter valued at approximately $915,000. Ameriprise Financial Inc. increased its position in KBR by 1.3% in the 1st quarter. Ameriprise Financial Inc. now owns 391,103 shares of the construction company’s stock valued at $5,878,000 after acquiring an additional 5,019 shares during the period. Quantbot Technologies LP acquired a new position in KBR in the 1st quarter valued at approximately $109,000. Finally, SG Americas Securities LLC increased its position in KBR by 239.1% in the 1st quarter. SG Americas Securities LLC now owns 24,031 shares of the construction company’s stock valued at $361,000 after acquiring an additional 16,945 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.
KBR, Inc is a provider of professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries. The Company operates through business segments, including Technology & Consulting (T&C), Engineering & Construction (E&C), Government Services (GS), Non-strategic Business and Other.
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