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UPDATE: D.A. Davidson & Co. Reiterates On KBR As First Quarter Shortfall Dampens Outlook

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In a report published Friday, D.A. Davidson & Co. analyst John B. Rogers reiterated a Buy rating on KBR (NYSE: KBR), but lowered the price target from $38.00 to $30.00.

In the report, D.A. Davidson & Co. noted, “KBR reported a first quarter loss of $0.29 per share, substantially below our expectations due to project losses and other operating issues. Please see our previous variance report. Errors discovered in the 2013 financial results related to project loss recognition delayed the Q1 report. Additionally, backlog at the end of the quarter slipped further due to low bookings activity, but remains at a relatively high level. Despite the losses, the company continues to maintain a very secure financial position with no debt and substantial cash.”

KBR closed on Thursday at $24.46.

Latest Ratings for KBR

DateFirmActionFromTo
Aug 2019ReinstatesBuy
Jul 2019Initiates Coverage OnBuy
Jul 2019UpgradesMarket PerformOutperform

View More Analyst Ratings for KBR
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co. John B. RogersAnalyst Color Price Target Analyst Ratings

 

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