Brean Capital Downgrades Tri-Tech Holding (TRIT) to Hold
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Price: $1.64 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Brean Capital downgraded Tri-Tech Holding (NASDAQ: TRIT) from Buy to Hold following weak Q3 results.
The firm comments, "3Q12 results were well below expectations. Total revenue in the quarter of $18.4 million (a 24% decrease) was well below our $27.3 million estimate. Loss per share of ($0.08) was nowhere close to our $0.37 EPS estimate. End market demand has clearly slowed, as the company significantly lowered guidance for 2012. We've lowered our 2012 estimates, suspended our 2013 estimates, and lowered our rating from Buy to Hold due to lack of visibility."
For an analyst ratings summary and ratings history on Tri-Tech Holding click here. For more ratings news on Tri-Tech Holding click here.
Shares of Tri-Tech Holding closed at $3.38 yesterday.
The firm comments, "3Q12 results were well below expectations. Total revenue in the quarter of $18.4 million (a 24% decrease) was well below our $27.3 million estimate. Loss per share of ($0.08) was nowhere close to our $0.37 EPS estimate. End market demand has clearly slowed, as the company significantly lowered guidance for 2012. We've lowered our 2012 estimates, suspended our 2013 estimates, and lowered our rating from Buy to Hold due to lack of visibility."
For an analyst ratings summary and ratings history on Tri-Tech Holding click here. For more ratings news on Tri-Tech Holding click here.
Shares of Tri-Tech Holding closed at $3.38 yesterday.
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