Metalico Rating Lowered to Underperform at Zacks (MEA)

Metalico (NYSE: MEA) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday. They currently have a $1.80 price target on the stock.

Shares of Metalico traded up 0.52% during mid-day trading on Tuesday, hitting $1.94. Metalico has a one year low of $1.43 and a one year high of $4.64. The stock’s 50-day moving average is currently $1.83. The company’s market cap is $92.3 million.

Metalico last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.02) by $0.04. The company had revenue of $129.00 million for the quarter, compared to the consensus estimate of $110.00 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts predict that Metalico will post $0.07 earnings per share for the current fiscal year.

Metalico, Inc. (Metalico) operates in two business segments: scrap metal recycling (Scrap Metal Recycling), and lead metal product fabricating (Lead Fabricating).

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