Downgrade Dents Parametric Shares

Stock quotes in this article: PMTC  

On a largely down day for technology stocks, Parametric Tech(PMTC Quote) suffered another hit Tuesday after an analyst downgrade.

Stock in the Needham, Mass.-based manufacturing-software developer dropped 80 cents, or 4.3%, to $17.70 in recent trading.

Jefferies analyst Ross MacMillan lowered his rating to hold from buy in advance of the company's third-quarter earnings report, due out Wednesday after the market close. MacMillan cited the increasingly tough license-growth comparisons coming for the next three quarters.

It's the company's second downgrade since warning earlier this month that revenue would come in at about $225 million, at least $10 million below its previous forecast. Shares had been trading north of $21 before the announcement.

Analysts have since taken down their EPS expectations by 7 cents, to 21 cents, excluding items, according to Thomson Financial. They expect revenue of $224.8 million.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin




Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
3.43%
SPDR Gold
109.74
+0.72%
+0.57%
+0.88%
-0.49%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services