Shimmick (NASDAQ:SHIM) Announces Earnings Results, Beats Expectations By $0.01 EPS

Shimmick (NASDAQ:SHIM) issued its earnings results on Monday. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, FiscalAI reports. The firm had revenue of $106.62 million during the quarter, compared to analysts’ expectations of $121.85 million.

Shimmick Trading Down 5.0%

Shimmick stock traded down $0.22 during mid-day trading on Monday, hitting $4.20. 71,573 shares of the company’s stock were exchanged, compared to its average volume of 132,422. Shimmick has a 1-year low of $1.83 and a 1-year high of $6.76. The stock has a 50 day moving average of $3.85 and a two-hundred day moving average of $3.99. The stock has a market cap of $154.14 million, a P/E ratio of -7.24 and a beta of 0.79.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SHIM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Wall Street Zen cut Shimmick from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Shimmick has a consensus rating of “Hold” and an average target price of $5.50.

Shimmick Company Profile

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.