Wedbush Downgrades Perma-Fix Environmental Services (PESI) to Neutral; Impact From Reduced Government Small-Project Spending

July 9, 2012 8:27 AM EDT
Get Alerts PESI Hot Sheet
Price: $3.90 --0%

Rating Summary:
    0 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
Trade PESI Now!
Join SI Premium – FREE
Wedbush downgraded Perma-Fix Environmental Services (NASDAQ: PESI) from Outperform to Neutral with a price target of $1.50 (from $2.50).

Analyst, Al Kaschalk, said, "Our downgrading of the shares of Perma-Fix is predicated on the following: (i) lower seasonal treatment volumes and spending by the Department of Energy (DOE) in CY12; (ii) an increase in cost-reduction efforts associated with the integration of Safety and Ecology Holdings Corp. (SEC) given the lower economic activity for SEC’s client base; and (iii) increased spending on larger multi-year DOE projects versus smaller, recurring projects such as waste treatment and processing."

FY12 EPS estimate cut from $0.12 to $0.06, revenues from $165.1M to $160.1M. FY13 EPS estimate cut from $0.16 to $0.09, revenues from $167.9M to $163.7M.

For an analyst ratings summary and ratings history on Perma-Fix Environmental Services click here. For more ratings news on Perma-Fix Environmental Services click here.

Shares of Perma-Fix Environmental Services closed at $1.15 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades

Add Your Comment