Why Investors Were Hitting the Brakes on J.B. Hunt Stock This Week
Gloomy guidance from the company's leader was discouraging for investors.
Overview
It's rarely a good development when a top executive at a company makes a downbeat prediction about the business. This was the main reason why J.B. Hunt Transport Services (NASDAQ: JBHT) stock was decelerating so sharply over the past few trading days. The dynamic was exacerbated by a raft of analyst price target cuts.
As of Thursday night, J.B. Hunt's shares were down by more than 12%, according to data compiled by S&P Global Market Intelligence.
Details
CFO Brad Delco made a stark admission at an investor conference early in the week -- J.B. Hunt now expects net earnings for its current (third) quarter to fall by 5% to 10% sequentially.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.