Oppenheimer Maintains a 'Perform' on URS Corp (URS); Lowering Numbers After Quarter Below Expectations
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Price: $52.73 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Oppenheimer maintains a 'Perform' on URS Corp (NYSE: URS), price target lowered from $48 to $43.
Oppenheimer analyst says, "Similar to last quarter, URS's 2Q results of $0.86 were below our $0.93 estimate and consensus of $0.91. However, management reaffirmed its guidance once again which implies a meaningful acceleration in revenue trends across 3 out of 4 market sectors, partially offset by what looks like continued conservatism at Industrial & Commercial. While recent acquisitions will be helpful in providing some sequential revenue tailwinds, core revenue growth remains challenged and the necessary acceleration could prove difficult given current macro uncertainty. Valuation keeps us at Perform."
"Lowering our '11E EPS to $3.55 from $3.65 primarily on weaker 2Q results. Our '12E EPS is now $3.80 from $3.85."
For more ratings news on URS Corp click here and for the rating history of URS Corp click here.
Shares of URS Corp closed at $36.29 yesterday.
Oppenheimer analyst says, "Similar to last quarter, URS's 2Q results of $0.86 were below our $0.93 estimate and consensus of $0.91. However, management reaffirmed its guidance once again which implies a meaningful acceleration in revenue trends across 3 out of 4 market sectors, partially offset by what looks like continued conservatism at Industrial & Commercial. While recent acquisitions will be helpful in providing some sequential revenue tailwinds, core revenue growth remains challenged and the necessary acceleration could prove difficult given current macro uncertainty. Valuation keeps us at Perform."
"Lowering our '11E EPS to $3.55 from $3.65 primarily on weaker 2Q results. Our '12E EPS is now $3.80 from $3.85."
For more ratings news on URS Corp click here and for the rating history of URS Corp click here.
Shares of URS Corp closed at $36.29 yesterday.
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