Precision Castparts Corp. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Precision Castparts Corp. (NYSE:PCP) will unveil its latest earnings on Thursday, October 27, 2011. Precision Castparts manufactures complex metal components and products and provides investment castings, forgings, and fastener systems for aerospace and industrial gas turbine applications.

Precision Castparts Corp. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $2.04 per share, a rise of 20% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $2.03. Between one and three months ago, the average estimate moved up. It has been unchanged at $2.04 during the last month. For the year, analysts are projecting net income of $8.71 per share, a rise of 24.3% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported profit of $1.97 per share against a mean estimate of net income of $1.95 per share. In the fourth quarter of the last fiscal year, it missed forecasts by 4 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 17.2% in revenue from the year-earlier quarter to $1.77 billion.

Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

A Look Back: In the first quarter, profit rose 21.7% to $286 million ($1.97 a share) from $235 million ($1.64 a share) the year earlier, exceeding analyst expectations. Revenue rose 15.8% to $1.68 billion from $1.45 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 16%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 16.4% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 12.4% in the fourth quarter of the last fiscal year and 10.1% in the third quarter of the last fiscal year.

Competitors to Watch: MS International plc (NYSE:MSI), Ladish Co., Inc. (NASDAQ:LDSH), Alcoa Inc. (NYSE:AA), Haynes International, Inc. (NASDAQ:HAYN), Allegheny Tech. Inc. (NYSE:ATI), Fansteel Inc. (FELI), Chicago Rivet & Machine Co. (AMEX:CVR), United Technologies Corp. (NYSE:UTX), and Hulamin Limited (HLM).

Stock Price Performance: During August 25, 2011 to October 21, 2011, the stock price had risen $15.94 (10.4%) from $153.56 to $169.50. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 6, 2011 when shares rose for eight-straight days, rising 10.5% (+$16.22) over that span. It saw one of its worst periods between February 14, 2011 and February 24, 2011 when shares fell for eight-straight days, falling 7.3% (-$11) over that span. Shares are up $30.37 (+21.8%) year to date.

(Source: Xignite Financials)

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