Jefferies Reports Slow 4Q for ULTR

Jefferies has published a report on the results of Ultrapetrol, Ltd.'s ULTR fourth quarter.

According to Jefferies, “Ultrapetrol reported a 4Q loss per share of $0.22 (excluding one-time items), which was below our estimate of a loss $0.16 per share as operating costs exceeded our estimates. Additionally, we are reducing our 2011 and 2012 estimates as currency movements and wage inflations are likely to result in sustained cost escalation.”

ULTR maintains its Buy Rating and $10 PT.

ULTR sold yesterday at $4.92.