Wedbush Sees Unanticipated Headwinds for Calgon Carbon (CCC); Remains Neutral

Wedbush reiterated a Neutral rating on Calgon Carbon Corp. (NYSE: CCC), and cut the price target to $18.00 (from $20.00), following the company's 3Q earnings. Earnings per share of $0.23 were below the consensus estimates of $0.25 on lower-than-expected revenues of $133.0 million compared to consensus estimates of $140.6 million. management appears less sanguine about the outlook in the coming period. However, Wedbush believes that the company is facing some unanticipated headwinds.

Analyst David Rose commented, "While quarterly results were only slightly below our estimates, management appears less sanguine about the outlook in the coming period. In our view, the company is facing some unanticipated headwinds that may be partially attributable to a deceleration in the industrial sector as well as weather related issues. What should be a steady growth business is now becoming less predictable. Given the valuation and lack of predictable growth, we are maintaining our NEUTRAL rating."

For an analyst ratings summary and ratings history on Calgon Carbon Corp. click here. For more ratings news on Calgon Carbon Corp. click here.

Shares of Calgon Carbon Corp. closed at $15.47 yesterday.

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