KBR (NYSE:KBR) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of KBR (NYSE:KBR) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $29.00 price target on the construction company’s stock.
According to Zacks, “Shares of KBR have outperformed its industry year to date. The solid performance was backed by robust contribution from Government Solutions and Technology businesses, courtesy of ongoing growth in its overseas logistics and mission support programs. Incremental revenues, and accretive earnings from the acquisition of SGT and consolidation of Aspire added to the positives. Its significant increase in backlog level, particularly in Government Solutions and Technology Solutions, positions it well for future expansion. Further, solid prospects in Energy Solutions and refining and petrochemicals market raise hopes. Earnings estimates remained stable for 2019 and 2020 over the past 60 days. Yet, risk of cost overruns, intense competition and dependency upon major construction contracts pose concerns.”
A number of other equities analysts also recently commented on the stock. TheStreet raised shares of Medpace from a c rating to a b- rating in a research note on Wednesday, April 10th. KeyCorp lifted their target price on shares of PGT Innovations from $20.00 to $22.00 and gave the stock an overweight rating in a research note on Monday, May 6th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Cowen reaffirmed a hold rating and set a $23.00 target price on shares of KBR in a research note on Monday, April 15th. Finally, Deutsche Bank downgraded shares of Cogent Communications from a buy rating to a hold rating in a research note on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. KBR presently has an average rating of Hold and an average target price of $24.80.
KBR (NYSE:KBR) last issued its earnings results on Wednesday, May 1st. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. KBR had a net margin of 3.51% and a return on equity of 12.84%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, analysts anticipate that KBR will post 1.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, June 14th. KBR’s dividend payout ratio (DPR) is 20.92%.
Institutional investors have recently added to or reduced their stakes in the company. Sageworth Trust Co purchased a new stake in shares of KBR in the 1st quarter valued at approximately $35,000. State of Alaska Department of Revenue acquired a new position in shares of KBR in the first quarter valued at approximately $102,000. NumerixS Investment Technologies Inc acquired a new position in shares of KBR in the fourth quarter valued at approximately $182,000. Summit Securities Group LLC acquired a new position in shares of KBR in the first quarter valued at approximately $239,000. Finally, Neuburgh Advisers LLC grew its holdings in shares of KBR by 5.3% in the fourth quarter. Neuburgh Advisers LLC now owns 17,006 shares of the construction company’s stock valued at $258,000 after purchasing an additional 858 shares in the last quarter. 98.86% of the stock is currently owned by institutional investors and hedge funds.
KBR Company Profile
KBR, Inc provides professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries worldwide. The company operates through three segments: Government Services, Technology & Consulting, and Engineering & Construction. The Government Services segment offers life-cycle support solutions to defense, space, aviation, and other programs and missions for government agencies in the United States, the United Kingdom, and Australia.
Featured Story: How to trade on quiet period expirations
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KBR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KBR and related companies with MarketBeat.com's FREE daily email newsletter.