For Immediate Release
Chicago, IL – February 4, 2010 – Zacks Equity Research highlights Emergency Medical Services (EMS) as the Bull of the Day and Vulcan Materials (VMC) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Bank of New York Mellon Corp. (BK), PNC Financial Services Group Inc.(PNC) and America Movil (AMX).
Full analysis of all these stocks is available at http://at.zacks.com/?id=5506
Here is a synopsis of all five stocks:
Emergency Medical Services’ (EMS) third quarter earnings per share came in at $0.66, surpassing the Zacks Consensus Estimate of $0.60 but flat with the year-ago period.
The company has performed well in both its segments, AMR and EmCare. We expect the growth momentum to continue with increased volume from new contracts, suitable acquisitions, better penetration in existing markets and operational efficiencies.
We believe the industry dynamics are currently quite favorable for the company since the outsourcing of emergency services is increasingly encouraged by government agencies and healthcare facilities, allowing them to reduce costs without compromising on quality. Given these factors, we upgrade the stock to Outperform.
Despite being the largest producer of construction aggregates and a leading producer of other construction materials, Vulcan Materials (VMC) faces a challenging environment in the construction industry.
The economic crisis, leading to a significant reduction in new home construction, continues to impact its sales volume. Furthermore, the company’s operations are highly susceptible to inclement weather and volatility in energy costs.
Its cash position has also deteriorated. These have led us to recommend shares of the company as Underperform. We set a target price of $40.
Latest Posts on the Zacks Analyst Blog:
BNY Mellon Acquires PNC Unit
Bank of New York Mellon Corp. (BK) announced on Tuesday that it is in the process of buying the global investment servicing unit of PNC Financial Services Group Inc.(PNC) for $2.31 billion.
On completion, the deal will help BNY Mellon become the second-largest provider of fund accounting, administration and transfer agency services by adding $855 billion in assets under administration. The transaction will also help PNC partly repay the $7.6 billion in government bailout money it received by participating in the Troubled Asset Relief Program in 2008 to fund the acquisition of National City Corp.
America Movil Misses Estimates
Latin American telecom giant America Movil (AMX) reported results for fourth-quarter 2009 with earnings per ADS of 61 cents missing the Zacks Consensus Estimates of 85 cents while falling 13.6% from the year-ago earnings per ADS of 71 cents.
Net profit slipped 17.2% year over year to 12.96 billion pesos ($992 million) on account of higher taxes. America Movil, which is controlled by Mexican billionaire Carlos Slim, had a tax expense of 7.46 billion pesos ($572 million) in the quarter compared to a gain of 394 million pesos ($30 million) in the year-ago quarter. Earnings per ADS of $3.19 for full year 2009 also came below the Zacks Consensus Estimate of $3.45. Currently, the Zacks Consensus Estimate for 2010 is $3.86.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.
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