Pacer International Down 20.5% On Earnings Miss (PACR)
Shares of Dublin, Ohio-based Pacer International, Inc. (Nasdaq: PACR) are currently down 20.5% at $5.48 per share during Thursday afternoon trading. Today's trading range for shares of Pacer International, Inc has been between $5.15 and $5.85 per share. The consensus price target of analysts covering the company's stock is $10.63 per share.
Volume of 2.1 million shares is already nearly 5 times the daily average volume of 460,000 shares.
Pacer International, Inc. (PACR) released financial results late on Wednesday that missed Wall Street estimates. Pacer International, Inc reported 4th quarter adjusted earnings of 5 cents per share, on revenue of $373.3 million.
A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 9 cents per share, on revenue of $382.19 million.
The company said that full-year 2011 earnings per share is projected to range between $0.25 and $0.30 per share.
Pacer International, Inc is a leading asset-light North American freight transportation and logistics services provider that offers a broad array of services to facilitate the movement of freight from origin to destination through its intermodal and logistics operating segments.
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