A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
====> Click Here For Your FREE Daily Cree Technical Analysis
Morgan Joseph began coverage of Andersons (ANDE) with a Buy rating and $48 price target. … Read the rest
The Andersons just reported their 4th quarter and full year results. Although the company reported net income of $32.9 million, or $1.79 per share, the full year results represent a 54% decrease in net income from 2007, then the company earned $68.8 million, or $3.75 per share.
Looking at just the 4th quarter, the company reported a loss of $33.4 million, or $1.85/share. In the 4th quarter of last year, the company reported net income … Read the rest
Firefighters in Delphi, Indiana were able to bring a fire at the Anderson’s facility under control after a week of work. An enormous pile of corncobs caught fire last week, requiring 46 fire departments from 13 counties to contain the blaze. The firefighters at the scene were released on January 4th, once the fire had been brought down to an "under watch, controlled burn."
How will this incident affect the already-struggling ethanol company? According … Read the rest
The Andersons, Inc, just announced that it expects its earnings for 2008 to be a good deal lower than previously expected. The company had originally forecast earnings in the range of $3.50 to $4.00 per diluted share. Now, they are expected to be in the range of $2.00 to $2.80 per diluted share.
Here are some further comments from the company:
… Read the restThe current guidance adjustment is the result of continued volatility in the plant nutrient
Andersons (ANDE) has raised its full year 2008 guidance to the range of 5.00 – 5.40 up from previous estimates of 4.40 – 4.80 just announced in June. This is a big bump in such a short time.. very impressive. The Street consensus is 4.61 EPS. The increase in primarily attributed to the Plant Nutrient Groups performance. Expect the stock to pop up above important resistance of the 200 day moving average tomorrow. … Read the rest