Barclays on U.S. Multi-Industry: Cutting Estimates: FX and Macro Headwinds

Article Stock Quotes (15) Comments (0)

Barclays on U.S. Multi-Industry: Cutting Estimates: FX and Macro Headwinds

Analyst, Scott R. Davis, said, "We are lowering earnings estimates for 2012 and 2013 by ~2-3% on average; highly dependent per company on international exposures. Recent movement in the Euro/$ and general macro slowdown are the biggest drivers. We now expect most companies to miss top-line estimates until guidance/forecasts are reset in July. Our earnings cuts are less than some might expect because of margin tailwinds - which are rather significant. Material costs are falling, discretionary expenses falling, and mix should remain positive at least through end of 2012."

For Overweight-rated Danaher Corp. (NYSE: DHR), price target lowered from $58 to $57, FY12 EPS estimate cut from $3.30 to $3.25 and FY13 from $3.75 to $3.65.

For Equalweight-rated Dover Corp. (NYSE: DOV), PT lowered from $68 to $67, FY12 EPS estimate cut from $4.90 to $4.80 and FY13 from $5.45 to $5.35.

For EW-rated Emerson (NYSE: EMR), price target lowered from $54 to $53, FY12 EPS estimate cut from $3.40 to $3.35 and FY13 from $3.85 to $3.80

For Underweight-rated Fastenal Company (Nasdaq: FAST), price target cut from $39 to $38, FY12 EPS estimate from $1.45 to $1.40 and FY13 from $1.70 to $1.65.

For OW-rated Hubbell, Inc. (NYSE: HUB-B), PT lowered from $90 to $89, FY12 EPS estimate from $5.00 to $4.95 and FY13 from $5.60 to $5.55.

For EW-rated ITT Corporation (NYSE: ITT), PT lowered from $25 to $24 and FY12 EPS estimate from $1.70 to $1.65 and FY13 from $1.85 to $1.80.

For OW-rated MSC Industrial Direct (NYSE: MSM), PT lowered from $89 to $86, FY13 EPS estimate lowered from $4.80 to $4.65.

For OW-rated Rockwell Automation (NYSE: ROK), PT lowered from $97 to $95, FY12 EPS estimate lowered from $5.30 to $5.25 and FY13 from $6.05 to $5.95.

For OW-rated Roper Industries (NYSE: ROP), PT lowered from $107 to $106, FY12 EPS estimate from $4.80 to $4.75 and FY13 from $5.35 to $5.30.

For OW-rated SPX Corp. (NYSE: SPW), PT lowered from $88 to $86, FY12 EPS estimate cut from $4.45 to $4.25 and FY13 from $5.85 to $5.75.

For OW-rated WESCO International (NYSE: WCC), PT cut from $71 to $70 and FY12 EPS estimate lowered from $4.80 to $4.75 and FY13 from $5.45 to $5.40.

For EW-rated 3M (NYSE: MMM), FY12 EPS estimate cut from $6.40 to $6.30 and FY13 from $7.00 to $6.80.

For OW-rated Honeywell (NYSE: HON), FY12 EPS estimate cut from $4.45 to $4.40 and FY13 from $4.95 to $4.90.

For EW-rated Sensata Technologies (NYSE: ST), FY12 EPS estimate cut from $2.15 to $2.10 and FY13 from $2.65 to $2.55.

For OW-rated Tyco International (NYSE: TYC), FY12 EPS estimate cut from $3.65 to $3.63 and FY13 from $4.10 to $4.05.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
• UPDATE: Macquarie Downgrades Barrick Gold (ABX) to Underperform
• Wells Fargo Upgrades Rosetta Resources (ROSE) to Outperform, Shares Attractive

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Barclays, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?