Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Legg Mason Cuts Quality Distribution to Hold

Quality Distribution (QLTY) reported a fourth-quarter loss per share of $4.95, vs. $2.56 a year ago. Legg Mason downgraded the stock to hold from buy.

Analyst John Larkin says fourth-quarter results reflect costs related to the company's balance sheet restructuring, modest head count reduction program, and recently announced issues related to its insurance unit. On a continuing operations basis, he notes 15 cents EPS fell well short of the consensus 25-cents forecast.

Larkin cut his $1.07 2004 EPS estimate to 90 cents, and $1.35 2005 forecast to $1.15. He will carefully watch QLTY's performance over the next couple of quarters with an eye toward an upgrade if it can perform at least in line with Street expectations; if not, thinks the shares will enter a holding pattern.

blog comments powered by Disqus