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Timothy Smith

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Timothy Smith

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Thursday, 09/10/2015 6:13:45 PM

Thursday, September 10, 2015 6:13:45 PM

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Carbo Ceramics (CRR +0.6%) says it will halt operations at its ceramic proppant manufacturing plant in Millen, Ga., due to reduced industry activity levels.

Howard Weil cuts its stock price target to $28 from $39, saying the idling means there will be a heightened measure of unabsorbed cost in relation to the idle capacity; the firm cuts its Q3 EPS outlook to a $0.68 loss from its earlier view of a $0.52 loss, its FY 2015 estimate to a $2.68 loss from a $2.28 loss, and its 2016 forecast to a $2.44 loss from a $0.92 loss (Briefing.com).

CRR, whose shares have dropped 77% in the past year, decided to idle another proppant facility in Georgia, earlier this year.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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