DA Davidson Downgrades Omega Protein (OME) to Underperform; Record Year of Fish Catch, But Earnings Collapse
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Price: $22.00 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
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DA Davidson downgraded Omega Protein (NYSE: OME) from Buy to Underperform, price target cut from $13 to $6.00.
DA analyst said, "Omega Protein reported Q4 operating EPS of $0.08, down from $0.44 last year, and below our $0.11 estimate. We are the only estimate on the Street. The reported EPS figure was $0.03, and included a write down on asset impairment from the discontinued Catamaran experiment...It’s disappointing that OME can have a record year of fish catch and an earnings collapse. It’s disappointing to see compensation up, given these circumstances."
"We are reducing our 2012 EPS estimate to $0.50, previously $0.80, and introducing our 2013 view at $0.75. The cost pool for the 1H12 is set, so margins are not likely to recover until at least the 2H. After that, the company’s performance will depend on fishing success – comped against a very good 2011."
For an analyst ratings summary and ratings history on Omega Protein click here. For more ratings news on Omega Protein click here.
Shares of Omega Protein closed at $8.52 yesterday.
DA analyst said, "Omega Protein reported Q4 operating EPS of $0.08, down from $0.44 last year, and below our $0.11 estimate. We are the only estimate on the Street. The reported EPS figure was $0.03, and included a write down on asset impairment from the discontinued Catamaran experiment...It’s disappointing that OME can have a record year of fish catch and an earnings collapse. It’s disappointing to see compensation up, given these circumstances."
"We are reducing our 2012 EPS estimate to $0.50, previously $0.80, and introducing our 2013 view at $0.75. The cost pool for the 1H12 is set, so margins are not likely to recover until at least the 2H. After that, the company’s performance will depend on fishing success – comped against a very good 2011."
For an analyst ratings summary and ratings history on Omega Protein click here. For more ratings news on Omega Protein click here.
Shares of Omega Protein closed at $8.52 yesterday.
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