URS -12% on weak 2014 outlook


URS Corp. (URS -12.1%) plunges to 11-month lows on downside guidance it issued after the close yesterday; it expects to report FY 2013 non-GAAP cash EPS of $4.16-$4.26 and FY 2014 cash EPS of $4.13-$4.43, while analysts had been expecting $4.15 and $4.32, respectively.

URS says lower than expected gas prices and pipeline capacity dragged down Q4 operating income, while execution issues in its oil and gas division dented project earnings.

URS also plans to accelerate its previously announced plan to return at least $500M to stockholders through stock repurchases and dividends by the end of 2015.

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Comments (2)
  • mjtroll1
    , contributor
    Comments (2839) | Send Message
     
    you can subtract $1 from both FY 2013 AND 2014 EPS ..THAT is why stock dropped nearly 20%..apparently company has missed estimates last 4 qtrs.. vs spy 3yr range has been 40.38 to -22.5 .. currently -27 ...good example of a relatively low p/e stock not providing protection when earnings projections cut by 20%
    13 Feb 2014, 11:48 AM Reply Like
  • mjtroll1
    , contributor
    Comments (2839) | Send Message
     
    you can knock $1 off of the fy 2013 and 2014 numbers..that why stock dropped nearly 20% ...good example of how modest p/e doesn't protect you against and eps change
    13 Feb 2014, 12:45 PM Reply Like
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