Cameron International Corporation (NYSE:CAM) is a drilling equipment maker among other things and is based out of Houston Texas. The company has recently been party to one of the worst performing stocks on Thursday as their stock value plummeted by 14.3% to $53.85 on the same day that they announced their third quarter results. The company has recorded earnings of 81 cents for every share missing yahoo finance predictions of 83 cents a share. The total revenue for the quarter for the company totaled in at $2.5 billion missing projections of $2.59 billion however the company has recorded a growth as compared to the third quarter of 2012 by 13%.
The CEO of the company, Jack B. Moore said that the company had managed to establish record revenues from their drilling and production systems wings. The expected earnings for the fourth quarter for the company were projected between 95 cents to a dollar per share which excludes any charges in the process. The volume of the orders for the company has also seen an increase by around 30% and the company now has a backlog figure of $11.2 billion by the end of the coming quarter.
The stock for Cameron International is rated as a buy by most analysts. This is so because this stock has a strong potential to outperform based on the coming together of the positive investment that the company has recently made. The company has its strengths in several areas such as a solid financial position, reasonably low debt levels and the fact that the revenue has seen some growth. Analysts also feel that these key areas of strength will compensate for the sub-par growth in the net income of the company which is one of the reasons why it is rated as a buy stock.