Precision Castparts Corp. (NYSE:PCP) issued its quarterly earnings data on Thursday. The company reported $2.88 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.90 by $0.02, ARN reports. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis.
A number of research firms have recently commented on PCP. Analysts at Sterne Agee raised their price target on shares of Precision Castparts Corp. from $247.00 to $281.00 in a research note to investors on Thursday, July 11th. They now have a “buy” rating on the stock. On the ratings front, analysts at UBS AG raised their price target on shares of Precision Castparts Corp. from $218.00 to $268.00 in a research note to investors on Monday, July 8th. They now have a “buy” rating on the stock. Finally, analysts at Drexel Hamilton reiterated a “buy” rating on shares of Precision Castparts Corp. in a research note to investors on Monday, July 8th. They now have a $260.00 price target on the stock.
Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $238.68.
Precision Castparts Corp. (NYSE: PCP) traded down 3.81% on Thursday, hitting $224.38. Precision Castparts Corp. has a 1-year low of $150.53 and a 1-year high of $254.14. The stock’s 50-day moving average is currently $225.1. The company has a market cap of $32.834 billion and a price-to-earnings ratio of 23.99.
Precision Castparts Corp. (NYSE: PCP) is a manufacturer of metal components and products, provides investment castings, forgings and fasteners/fastener systems for critical aerospace and industrial gas turbine (IGT) applications.
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