Dahlman Rose Starts Key Energy Services (KEG) at Hold; A Changed and More Focused Company

March 8, 2011 1:24 PM EST
Get Alerts KEG Hot Sheet
Price: $36.96 --0%

Rating Summary:
    14 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 43
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Dahlman Rose initiates coverage on Key Energy Services (NYSE: KEG) with a Hold.

Dahlam analyst says, "KEG is a company that has gone through some significant changes over the past one to two years. A better, more focused company that stands to benefit from some of the important trends going on in the business has emerged. We forecast a good earnings recovery over 2010-2012 but believe the stock largely reflects this."

"Results look poised to return to profitability in the first quarter of 2011. We expect a steady build in earnings over the course of 2011 and 2012 with the company exiting 2012 at about a $1.10-$1.15 per share annualized run rate. Our full year earnings per share estimates are $0.65 for 2011 and $1 per share in 2012."

For more ratings news on Key Energy Services click here and for the rating history of Key Energy Services click here.

Shares of Key Energy Services closed at $15.58 yesterday.

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