BUZZ-Progressive Waste Solutions Ltd: Q3 revenue estimate misses

Tue Oct 20, 2015 11:10am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian waste management company's U.S.-listed shares down 15.8 pct at $22.78

** Stock falls as much as 23 pct to near 2-and-1/2-year low of $20.81, is biggest percentage loser on NYSE

** Company estimates Q3 revenue below analysts' expectations, hurt by higher operating costs

** Progressive Waste also cuts full-year adjusted EBITDA forecast to $480 mln-$485 mln from $500-$515 mln

** At least 4 brokerages cut PTs by as much as $3 to as low as $28

** CIBC cuts rating to "sector performer" from "sector outperformer"; Wedbush to "neutral" from "outperform"; BMO to "market perform" from "outperform"; National Bank Financial to "sector perform" from "outperform"

** Of 16 brokerages covering stock, 11 have "buy" or higher rating and 5 have "hold"; median PT is $31