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Pall Hits New 52-Week Low After Pulling Guidance

Shares of Pall (PLL) hit new lows Thursday, on the heels of Wednesday's earnings report in which the company pulled its 2009 guidance.

The East Hills, N.Y.-based company, which develops filtration and purification technologies, reported fiscal second-quarter net income of $38.9 million, or 33 cents per share, compared to $48 million, or 39 cents per share, in the year-ago quarter.

Excluding special one-time charges, Pall adjusted earnings were $45.2 million or 38 cents per share. Net sales fell 13% to $543.3 million from $625.7 million in the year-ago period.

On average, Wall Street analysts expected earnings of 44 cents per share, excluding items, on sales of $581.10 million.

Pall declined to offer any guidance for 2009, citing turbulent economic conditions. The company had previously forecast full-year 2009 earnings of $2.15 to $2.30 per share, excluding charges and currency impacts.

Pall shares traded down $3.93, or -17%, in early afternoon trading Thursday.

We have avoided shares of Pall since our early June coverage began, when the stock traded at $40.73. The company has a 2.56% dividend yield, based on last night's closing stock price of $22.68.

The stock has technical support near all-time technical lows in the $12 to $15 price range. If the stock can rebound, we see overhead resistance around the $26 to $28 levels. We would look elsewhere for a better investment opportunity at this time.

Pall is not recommended at this time, holding a Rating of 2.9 out of 5 stars.
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SFD $0.00 0.00%
NAFC $28.29 0.32%
PLL $127.11 -0.01%
PFE $32.71 0.00%
AAPL $93.74 0.00%


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