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

Shimmick (NASDAQ:SHIM) posted its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01, FiscalAI reports. The firm had revenue of $106.62 million during the quarter, compared to the consensus estimate of $121.85 million.

Shimmick Price Performance

Shares of SHIM stock traded down $0.22 during trading hours on Monday, reaching $4.20. 71,572 shares of the company were exchanged, compared to its average volume of 132,300. Shimmick has a fifty-two week low of $1.83 and a fifty-two week high of $6.76. The stock’s fifty day moving average is $3.85 and its two-hundred day moving average is $3.99. The company has a market cap of $154.14 million, a price-to-earnings ratio of -7.24 and a beta of 0.79.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Shimmick from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Shimmick presently has a consensus rating of “Hold” and a consensus price target 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.