In a report issued on September 14, Kevin Roger from Kepler Capital maintained a Buy rating on Kvaerner ASA (KVAEF), with a price target of NOK12.00. The company’s shares closed last Monday at $1.12, close to its 52-week high of $1.13.
According to TipRanks.com, Roger is a 2-star analyst with an average return of 0.4% and a 37.0% success rate. Roger covers the Industrial Goods sector, focusing on stocks such as Shelf Drilling, Borr Drilling, and BW Offshore.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kvaerner ASA with a $1.33 average price target.
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Based on Kvaerner ASA’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.47 billion and net profit of $84 million. In comparison, last year the company earned revenue of $1.83 billion and had a net profit of $69 million.
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Kværner ASA provided ship building and other related engineering services. Its principal activity was to provide services related to design, construction, maintenance, modification and operation of large and small industrial facilities. The group also provided technology products and integrated solutions. The services of the group were provided to industries that include oil and gas upstream and downstream, process, pharmaceuticals, metals, power, chemical, pulping, environmental technologies and ship building. The company was headquartered in Oslo, Norway.