The Valspar Corporation (VAL) has missed the Zacks Consensus Estimate in four of the last five quarters and a recent decline in earnings estimates has pushed the Zacks Rank down to the lowest rating. Today VAL is the Bear of the Day.
Valspar is a global leader in the paint and coatings industry.
The company announced that it was going to be acquired by Sherwin-Williams ((SHW - Free Report) ) for $113 per share or about $11.3B on March 21, 2016.
The company has missed the Zacks Consensus Estimate in four of the last five quarters including two straight misses. The most recent miss came on March 8 with the company reporting earnings of $0.52 when the Zacks Consensus was calling for $0.74.
The 2017 Zacks Consensus Estimate has slide from $5.29 in November to $4.92 in February and is now at $4.49.
There has been a similar move in 2018 projections even as the company will likely be part of SHW by then. Still, those moves lower in earnings estimates are what drive the Zacks Rank.
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