Shares of Chicago Bridge & Iron (CBI) Bounce Off Lows, But Still Down 4.7% Today
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Price: $62.33 -1.47%
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade CBI Now!
Shares of Chicago Bridge & Iron (NYSE: CBI) have bounced off session lows, but the stock is well underperforming the market, currently down 4.63% to $33.18.
The stock was trading in the mid-$40s at the end of April, but and held up despite missing Q1 earnings by $0.05 ($0.60 vs. consensus of $0.65). Revenues were also a little light at $1.2 billion vs. $1.27 billion consensus.
However, starting around May 4, 2012, shares have been in a free-fall, dropping about 25% in a month.
The Company declared a $0.05/share quarterly cash dividend on May 4, but it's possible investors were looking for more. At the end of April, UBS was defending the stock, maintaining it's 'Buy' rating, saying execution is solid, but pressures still remain.
Ouch, on April 4, 2012, Tudor Pickering initiated coverage on CBI with a 'Buy'. If you bought that day, you'd be down approx. 23%.
Looking at a two-year chart, the stock really ran up between May 2010 all the way through May 2011, but then dipped. So the last two years, the old adage of 'Sell in May and go away' holds true.
On the positive side, the company's market cap is only $3.24 billion, with annual revenues of $4.8 billion and approx. $640 million cash on hand. Only about 1% of the float is being shorted and the company's total debt is $40 million.
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The stock was trading in the mid-$40s at the end of April, but and held up despite missing Q1 earnings by $0.05 ($0.60 vs. consensus of $0.65). Revenues were also a little light at $1.2 billion vs. $1.27 billion consensus.
However, starting around May 4, 2012, shares have been in a free-fall, dropping about 25% in a month.
The Company declared a $0.05/share quarterly cash dividend on May 4, but it's possible investors were looking for more. At the end of April, UBS was defending the stock, maintaining it's 'Buy' rating, saying execution is solid, but pressures still remain.
Ouch, on April 4, 2012, Tudor Pickering initiated coverage on CBI with a 'Buy'. If you bought that day, you'd be down approx. 23%.
Looking at a two-year chart, the stock really ran up between May 2010 all the way through May 2011, but then dipped. So the last two years, the old adage of 'Sell in May and go away' holds true.
On the positive side, the company's market cap is only $3.24 billion, with annual revenues of $4.8 billion and approx. $640 million cash on hand. Only about 1% of the float is being shorted and the company's total debt is $40 million.
To see more ratings on CBI, Click Here
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