By early afternoon, shares had taken off 10% to $10.42. Trading volume of 1.5 million was more than 8 times its three-month daily average.
In the three months to December, the business services provider to the energy sector reported per-share profit of 7 cents. Analysts had forecast earnings of 16 cents a share.
Revenue of $130.4 million was 39.9% higher year and year, but missed consensus by $2.64 million.Must Read: Warren Buffett's 10 Favorite Dividend Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates FURMANITE CORP as a Buy with a ratings score of B. The team has this to say about their recommendation: "We rate FURMANITE CORP (FRM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
- You can view the full analysis from the report here: FRM Ratings Report