Market Overview

UPDATE: S&P Capital IQ Downgrades Veeco Instruments on Lowered 2014 Operating EPS

Related VECO
Deutsche Bank Expects Bookings Recovery To Continue For Veeco Instruments
Benzinga's Top #PreMarket Losers

In a report published Thursday, S&P Capital IQ analyst A. Zino downgraded the rating on Veeco Instruments (NASDAQ: VECO) from Buy to Hold.

In the report, S&P Capital IQ noted, “We cut our '14 operating EPS estimate by $0.26 to $0.09 loss, but raise '15's by $0.07 to $1.29 EPS. We up our 12-month target price by $8 to $42, on a price-to-sales ratio above peers, given our view of growth prospects and net cash per share of over $12. VECO posted a Q4 loss per share of $0.42 vs. $0.09, wider than Capital IQ consensus. Sales fell 31% and margins narrowed, on lower volume, pricing pressure, and higher operating expenses. We are encouraged by improving customer utilization rates and anticipate an order recovery in '14, albeit from depressed levels.”

Veeco Instruments closed on Wednesday at $40.55.

Latest Ratings for VECO

DateFirmActionFromTo
Dec 2014JP MorganMaintainsOverweight
Oct 2014SusquehannaUpgradesNeutralPositive
Sep 2014Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for VECO
View the Latest Analyst Ratings

Posted-In: A. Zino S&P Capital IQAnalyst Color Downgrades Analyst Ratings

 

Related Articles (VECO)

Around the Web, We're Loving...

Get Benzinga's Newsletters