Oppenheimer is out this morning with some comments on Duoyuan Global Water (DGW), which plunged over 40% yesterday. The firm believes the corporate governance concerns will continue to weigh on shares of DGW and despite the big price drop, shares will be dead money until confidence is restored. They are bullish on China’s water treatment industry, but rising expenses will be another drag on DGW and pressure its bottom line. They remain on the sidelines … Read the rest
Category Archives: Water
Duoyuan Global Water (DGW) Plunges On Ties To Duoyuan Printing (DYP), Piper Downgrade
Duoyuan Global Water (DGW), one of the top China water plays, is plunging today after Piper Jaffray downgraded the stock from Overweight to Underweight and slashed the price target from $34 to $9 due to concerns over its ties to Duoyuan Printing (DYP) which fired its auditor and reorganized top management. Since the two companies share some key executives, Piper is concerned there are internal control and corporate governance issues at DGW as well.
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Duoyuan Global Water (DGW) Beats, But Quarter Over Quarter Profit Flat
Duoyuan Global Water (DGW) reported results this morning that beat analyst estimates, but the EPS remains flat over the year ago quarter. The company reported a Q2 EPS of $0.46, 10 cents better than the analyst estimate of $0.36 on revenue for the of $43.3 million, vs the estimate of $40.88 million. The EPS number is a bit less than the year ago .47 number, but the revenue increased 38%. So, while revenue growth remains … Read the rest
Rino International (RINO) Beats, Reaffirms Guidance
RINO International (RINO) beat analyst estimates after the bell today and reaffirmed guidance. The company posted a Q2 non-GAAP EPS of $0.54, 12 cents better than the analyst estimate of $0.42 on revenue of $65.4 million, which was better than the estimate of $50.93 million. That represents quarter over quarter growth of 35% on the EPS side and 61% on the revenue side.
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Here are … Read the rest
Piper Jaffray Reiterates Overweight On Tri-Tech (TRIT)
Piper Jaffray is out reiterating an Overweight rating on Tri-Tech Holding (TRIT) this morning. Hat tip to Street Insider for the analyst comment.
==> Click Here For A Free Tri-Tech Technical Analysis
“We expect management’s tone to remain upbeat regarding the outlook as China embarks on significant water infrastructure expansion. TRIT’s proprietary products & services position the company well to capitalize on this large market opportunity. We do not anticipate significant changes to our FY10 … Read the rest
Tri-Tech Holding (TRIT) Beats, Reaffirms Guidance
Tri-Tech Holding (TRIT), a top China water play, reported a Q2 EPS of $0.19, 6 cents better than the analyst estimate of $0.13 this morning. Revenue for the quarter was $8.1 million, which compares to the estimate of $7.02 million. That’s a revenue surge of 161% over the year ago quarter and a 19% improvement on the EPS side. Given the big ramp in revenue, I’d like to see TRIT reported a stronger EPS number, … Read the rest
Tri-Tech Holding (TRIT) Shares Pop On $8 Million Buy Back Program
Tri-Tech Holding (TRIT) remains a good way to play China water pollution/scarcity, but the stock has been crushed in recent months and trading down around all time lows. Today it’s getting some relief after the company announced an $8 million buy back program. They indicate the repurchases may occur over the next year in one or more public transactions in accordance with Rule 10b-18.
Analyst Rating Roundup: LDK, RINO, AMSC
A few analyst ratings/notes to highlight this morning.
The biggest was the two notch upgrade of LDK Solar (LDK) by Bank of America from Underperform to Buy due to lower risks of oversupply. Following the LDK Solar earnings report, I mentioned that I thought the stock offered a very compelling entry down at these levels and has the potential to double or triple if you’re patient. I still believe that. Shares of LDK gapped … Read the rest
Rino Intl (RINO) Misses Big On EPS, Shares Down
Rino Intl (RINO) was a high flyer last year as revenues and earnings soared, but the stock began to sell off in January and continued to slide even as growth remained very impressive. Now we know why. As I’ve mentioned before, technicals always lead fundamentals. That is, the stock will sell off long before the fundamentals turn sour. Conversely, a stock will run well before the growth begins to appear.
Tri-Tech Holding (TRIT) Matches EPS, Misses On Revs, Shares Plunge Again
Tri-Tech Holding (TRIT) has really struggled since their last earnings report when the stock gapped up with heavy volume after beating estimates. It’s been all down hill from there, much of that the result of a secondary offering. Missing revenue estimates this morning isn’t helping. The stock was off another 20% around the lows today, but is holding what appears to be decent support around the $10 level.