UBS Maintains a 'Neutral' on Jacobs Engineering (JEC); Q2 Misses, But Backlog Up 4%
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Price: $85.84 --0%
Rating Summary:
23 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Jacobs Engineering (NYSE: JEC) price target lowered from $48 to $46.
Analyst, Steven Fisher, said, "An unexpected miss and guidance cut; management tone still positive - Assuming the quarter’s results don’t carry forward to next year, the stock may have oversold a bit today (May1). Mgmt’s positive message about developing North American energy prospects was not much different from other E&Cs that have reported recently. However, we see the guidance reduction as a bit of a step backwards in investor confidence for JEC, which was regaining momentum after the downturn."
UBS lowers FY12 EPS estimate from $3.00 to $2.93 and FY13 from $3.45 to $3.40.
For an analyst ratings summary and ratings history on Jacobs Engineering click here. For more ratings news on Jacobs Engineering click here.
Shares of Jacobs Engineering closed at $41.86 yesterday.
Analyst, Steven Fisher, said, "An unexpected miss and guidance cut; management tone still positive - Assuming the quarter’s results don’t carry forward to next year, the stock may have oversold a bit today (May1). Mgmt’s positive message about developing North American energy prospects was not much different from other E&Cs that have reported recently. However, we see the guidance reduction as a bit of a step backwards in investor confidence for JEC, which was regaining momentum after the downturn."
UBS lowers FY12 EPS estimate from $3.00 to $2.93 and FY13 from $3.45 to $3.40.
For an analyst ratings summary and ratings history on Jacobs Engineering click here. For more ratings news on Jacobs Engineering click here.
Shares of Jacobs Engineering closed at $41.86 yesterday.
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