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Furmanite Corporation Stock Upgraded (FRM)

NEW YORK (TheStreet) -- Furmanite Corporation (NYSE:FRM) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:

  • FRM's revenue growth has slightly outpaced the industry average of 11.7%. Since the same quarter one year prior, revenues rose by 17.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • FURMANITE CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, FURMANITE CORP turned its bottom line around by earning $0.26 versus -$0.08 in the prior year. This year, the market expects an improvement in earnings ($0.46 versus $0.26).
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Construction & Engineering industry and the overall market, FURMANITE CORP's return on equity exceeds that of both the industry average and the S&P 500.
  • Net operating cash flow has slightly increased to $7.59 million or 1.98% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -10.90%.
  • Despite currently having a low debt-to-equity ratio of 0.32, it is higher than that of the industry average, inferring that management of debt levels may need to be evaluated further. Even though the debt-to-equity ratio shows mixed results, the company's quick ratio of 2.55 is very high and demonstrates very strong liquidity.

Furmanite Corporation, through its subsidiaries, provides technical services in Europe, North America, South America, Latin America, the Middle East, Africa, and the Asia Pacific. The company has a P/E ratio of 14.7, above the average diversified services industry P/E ratio of 14.3 and below the S&P 500 P/E ratio of 17.7. Furmanite has a market cap of $239.4 million and is part of the services sector and diversified services industry. Shares are down 12.9% year to date as of the close of trading on Friday.

You can view the full Furmanite Ratings Report or get investment ideas from our investment research center.

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