ASTEC INDS INC (ASTE)
Nov 19, 2009
Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List - Stocks to Sell Now by 80% annually (+2% versus +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.
Here is a synopsis of why HUGH and ASTE have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:
Hughes Communications Inc. (HUGH) posted a third-quarter loss of 12 cents per share on Nov 4, compared to analysts? expectations of a loss of 4 cents. The company?s earnings in the year-ago quarter stood at 18 cents per share. Revenues decreased to $251.4 million from last year?s $271.8 million. The Zacks Consensus Estimate for 2009 is now pegged at a loss of $2.44 per share that widened from a loss of $2.40 in the last week.
Astec Industries, Inc. (ASTE) reported a 79% year-over-year decrease in third-quarter profit to 15 cents per share last month due to a slump in residential markets. Quarterly earnings missed the Zacks Consensus Estimate by 53%. Sales declined 30% to $166.1 million. The full-year average forecast fell to 99 cents per share from $1.18 over the past month as 8 out of 12 covering analysts pulled back on projections.
Here is a synopsis of why ABII and RGC have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;
Abraxis Bioscience, Inc. (ABII) announced a third-quarter loss of 69 cents per share on Nov 5, which decreased from last year?s loss of 3 cents. Analysts on average, polled by Zacks expected a loss of 53 cents per share. The Zacks Consensus Estimate for the current year has widened to a loss of $3.10 per share from $2.20 in the last 30 days. Next year?s estimate is pegged at a loss of $2.13 per share, worse than a month-ago forecast of $1.77.
Regal Entertainment Group?s (RGC) third-quarter earnings of 5 cents per share, reported on Oct 29, missed analysts? projections by 28%. Revenues slumped to $673.5 million from $757.6 million a year ago. The Zacks Consensus Estimate for 2009 stands at 62 cents per share, a decrease from 71 cents over the past month. Thirteen out of 15 analysts reduced on estimates in that time span.
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