Back to top

Momentum

Pike Electric Corporation (PIKE - Snapshot Report) posted impressive fiscal first quarter 2013 results last week with a triple-digit earnings surprise. Also, shares reached a new all-time high of $10.99 on November 12, 2012. With a year-to-date return of about 48%, this Zacks #1 Rank (Strong Buy) provider of electrical industry solutions is showing strong momentum.

Driving Catalysts

On November 5, Pike Electric Corporation announced fiscal first quarter earnings per share of 26 cents, up 271% year over year and jumping 117% above the Zacks Consensus Estimate of 12 cents.

Net sales soared 42% to $244.6 million based on a 30% increase in Construction revenue (about 83% of total revenue) and a 161% increase in revenue from Other Operations.

Earnings Momentum Rising

Over the last 30 days, five of 6 estimates were revised higher for fiscal 2013, boosting the Zacks Consensus Estimate by 53.3% to 69 cents per share. All 5 estimates for fiscal 2014 were also raised in that time, lifting the Zacks Consensus Estimate by 22.4% to 71 cents.

These estimates reflect year-over-year growth of 116.2% for 2013 and 2.1% for 2014.

Valuation & Technicals

Pike Electric is currently trading at a forward P/E multiple of 15.4, a 4.6% discount from its peer group average of 16.2. On a P/S basis, shares trade at 0.5x, versus the peer group average of 1.6x. The company offers a ROE of 6.3%.

The last month was good for the stock as it rose from roughly $8.00 per share to close to $11.00 per share. The outlook for the year ahead seems bright as supported by rising Zacks Consensus Estimates.

Pike Electric Corporation is headquartered in Mount Airy, North Carolina and was incorporated in 1945. The company specializes in providing engineering, construction and maintenance services to its clients including investor-owned utilities, electric co-operatives and independent power providers. The company currently has a market capitalization of approximately $374.3 million.


Want More of Our Best Recommendations?

Zacks' Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Then each week he hand-selects the most compelling trades and serves them up to you in a new program called Zacks Confidential.

Learn More>>


Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
PLANAR SYST… PLNR 4.42 +4.74%
BITAUTO HOL… BITA 81.36 +4.67%
WILLDAN GRO… WLDN 12.09 +3.25%
CHINA BIOLO… CBPO 47.65 +2.73%
SPIRIT AIRL… SAVE 72.93 +2.57%