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Cameron International Corporation (NYSE:CAM) Shares Tumble On Q3 Results

Boston, MA 10/29/2013 (wallstreetpr) – Cameron International Corporation (NYSE:CAM) disappointing Q3 performance has begun to have repercussions on the company stocks in the recent days.

One of the leading Oil and Gas equipment designer and manufacturer CAM, is a known name for installation of subsea systems for most oil and gas production companies. Despite, low customer satisfaction CAM has stood its own in this hugely challenging industry. It continues to bring value to its assets through joint ventures – OneSubsea with Schlumberger.

On October 24, 2013, the third quarter results for the corporation were announced- missing estimates for revenue and earnings.

The company earned revenue of $2.5 billion missing by $0.1 billion. The net profit for CAM fell by 15% translation to $189 million. An after-tax of $8.6 million was related to OneSubsea venture with Schlumberger. It also earned a Year on Year cost hike of 5%.

The total revenue for the company stood at $2.5 billion which was 13% higher. There was an increase in the number of orders CAM received as well, moving from $3 billion from previous higher of $2.3 billion. Additionally, there was a $11.2 billion backlog towards the end of the quarter.

CAM has also issued its fourth quarter guidance. The EPS is pegged at $0.95 to $1.00 while analysts are looking at $1.13.

Most analyst firms have already announced a downgrade for the company. Most analyst opine that , in the immediate investment terms, CAM has definitely lost its lustre. However, on long term investments CAM would show promising results. The expected turn around for the company is pegged at 2 to 3 years.

Deutsche Bank has been quick to move in CAM shares, moving in higher price targets of $73 over $66.

According to Deutsche Bank, CAM future performance will be good considering its JVs in deepwater as well as Subsea play.

Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email ([email protected]) or his Google+ page (

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