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Why Cameron International Corporation (CAM) is Down Today

NEW YORK (TheStreet) -- One of Thursday's worst-performing stocks on the S&P 500, Cameron International Corporation (CAM - Get Report), plummeted 14.3% to $53.85 after reporting third-quarter results earlier in the day. The index ended the day up 0.33%.

Drilling equipment maker Cameron recorded earnings of 81 cents a share, missing Yahoo! Finance consensus of 83 cents. Revenue totaled $2.5 billion, less than expectations of $2.59 billion, but 13% higher than the same period last year.

"Record revenues were established this quarter in each of our Drilling & Production Systems businesses," said CEO Jack B. Moore.

Total orders rose 30% year-on-year to $3 billion and the company had a record $11.2 billion in backlog by the end of the quarter.

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Cameron said it expects fourth-quarter earnings between 95 cents and $1 a share, excluding charges. Analysts expected fourth-quarter earnings of $1.12 a share.

TheStreet Ratings team rates Cameron International Corporation as a Buy with a ratings score of A-. The team has this to say about its recommendation:

"We rate Cameron International Corporation (CAM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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