PAREXEL International Corporation (PRXL) saw a big move last session, as the company’s shares fell nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for PRXL as the stock is now up around 1% Since Jun 9.
On Jun 23, 2015, PAREXEL International lowered its guidance for fourth-quarter (ending June 30, 2015) and fiscal 2015 revenues and other financial metrics. Fourth-quarter fiscal 2015 revenues are now expected in the band of $517–$533 million, lower than the previously guided $520–$540 million. Fourth-quarter fiscal 2015 revenues are now expected in the band of $517–$533 million, lower than the previously guided $520–$540 million.
The biopharmaceutical outsourcing services company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (3 increases, 4 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PRXL currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is AMN Healthcare Services Inc. (AHS), which currently carries a Zacks Rank #1 (Strong Buy).
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