New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 26, 2014
11:28 EDTPESI, WM, CLH, CVAClean Harbors plunges to 52-week low after cutting guidance
Shares of Clean Harbors (CLH), a provider of environmental, energy and industrial services, are sinking after the company's fourth quarter results and its first quarter revenue forecasts trailed expectations. The company also lowered its fiscal 2014 revenue and adjusted EBITDA outlook. WHAT'S NEW: This morning, Clean Harbors reported Q4 earnings per share of 44c and revenue of $879.4M, trailing expectations of 55c and $894.41M, respectively. The company forecast Q1 revenue of $820M-$840M, compared to consensus of $907.47M. Q1 adjusted EBITDA was seen at $100M-$105M. The company lowered its FY14 revenue view to to $3.5B-$3.6B from $3.7B-$3.8B, versus consensus of $3.74B. It also cut its FY14 adjusted EBITDA view to $525M-$555M from $610M-$640M. The company cited an unanticipated slowdown due to adverse weather and the timing of holidays in December for the weak results and guidance. It also announced a $150M share repurchase program. STREET RESEARCH: In a note published prior to the company's earning conference call, research firm Wedbush predicted the company's quarterly miss and lowered outlook could result in shares trading down 10%-15% during today’s session. Wedbush said it was maintaining its positive stance on Clean Harbors with an Outperform rating and a 12-month price target of $74 for the time being, but added that its estimates and price target were under review. Note that Clean Harbors was mentioned cautiously by Grant's Interest Rate Observer in an article on February 6 and Herb Greenberg of TheStreet.com published a cautious report on the company in November of last year. PRICE ACTION: In late morning trading, Clean Harbors fell $7.81, or 14.5%, to $46.13 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $44.95. Including today's slide, the stock has lost about 19% over the past six months. OTHERS TO WATCH: Other firms providing environmental solutions include Perma-Fix Environmental Services (PESI), Covanta (CVA), and Waste Management (WM).
News For CLH;PESI;CVA;WM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 19, 2014
10:17 EDTCLHOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:47 EDTCLHClean Harbors initiated with a Neutral at Macquarie
Target $46.
December 18, 2014
14:32 EDTCLHClean Harbors: Safety-Kleen business revises pay-for-oil structure
Subscribe for More Information
December 17, 2014
10:02 EDTCVAOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:13 EDTCVACovanta downgraded to Neutral from Outperform at RW Baird
Subscribe for More Information
December 10, 2014
16:57 EDTCVAThird Avenue reports 3.11% passive stake in Covanta
Subscribe for More Information
09:58 EDTCVACovanta assumes operations of Pinellas County, FL resource recovery facility
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use