Steel Excel (ADPT) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

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Steel Excel (NASDAQ:ADPT) posted its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.11) by $0.11, Analyst Ratings Network.com reports. The company had revenue of $44.20 million for the quarter, compared to the consensus estimate of $43.50 million. Steel Excel’s revenue was up 80.4% compared to the same quarter last year.

Shares of Steel Excel (NASDAQ:ADPT) traded up 0.99% on Thursday, hitting $24.49. 8,005 shares of the company’s stock traded hands. Steel Excel has a one year low of $23.35 and a one year high of $28.36. The stock’s 50-day moving average is $25.33 and its 200-day moving average is $25.33. The company’s market cap is $229.6 million.

A number of analysts have recently weighed in on ADPT shares. Analysts at Dougherty & Co initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set a “buy” rating on the stock. On the ratings front, analysts at Morgan Stanley initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set an “equal weight” rating on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set an “overweight” rating and a $32.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $30.83.

Steel Excel Inc, formerly ADPT Corp. is primarily focused on capital redeployment and identification of new business operations.

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