Wedbush Downgrades Heckmann Corporation (HEK) to Underperform, Sees Weaker Earnings
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Price: $3.74 --0%
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade HEK Now!
Wedbush downgraded Heckmann Corporation (NYSE: HEK) from Neutral to Underperform with a price target of $2.50 (from $3.00).
"Based on recent channel checks and publicly available data, we believe the earnings outlook is weaker than anticipated," the analyst said. "Valuations for the peer group reflect this unfavorable backdrop; and we believe HEK shares are likely to follow suit as earnings and valuation expectations are reduced."
The firm is reducing revenue and EBITDA assumptions for 2013 to $706 million and $178 million from $768 million and $203 million, respectively. Their 2013 EBITDA estimate is approximately $45 million below consensus. They are reducing 2013 EPS estimate to $0.16 from $0.23.
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $4.35 yesterday, with a 52 week range of $2.60-$5.49.
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"Based on recent channel checks and publicly available data, we believe the earnings outlook is weaker than anticipated," the analyst said. "Valuations for the peer group reflect this unfavorable backdrop; and we believe HEK shares are likely to follow suit as earnings and valuation expectations are reduced."
The firm is reducing revenue and EBITDA assumptions for 2013 to $706 million and $178 million from $768 million and $203 million, respectively. Their 2013 EBITDA estimate is approximately $45 million below consensus. They are reducing 2013 EPS estimate to $0.16 from $0.23.
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $4.35 yesterday, with a 52 week range of $2.60-$5.49.
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