On Oct 31, Shell reported third quarter 2013 adjusted earnings of $1.43 per ADR, well below the Zacks Consensus Estimate of $1.70. This was the company’s second consecutive miss. The fourth quarter does not seem bright for the company either.
Shell Slips to Sell
by Zacks Equity Research Published on
On Nov 26, Zacks Investment Research downgraded Europe’s largest oil company, Royal Dutch Shell plc (RDS.A – Analyst Report), to a Zacks Rank #4 (Sell).
Why the Downgrade?
On Oct 31, Shell reported third quarter 2013 adjusted earnings of $1.43 per ADR, well below the Zacks Consensus Estimate of $1.70. This was the company’s second consecutive miss.
Results suffered due to higher costs, lower output, supply disruptions in Nigeria and a drop in refining margin. Segmental performance was also weak with both the Upstream and Downstream segment earnings falling below the prior-year level.