Dahlman Rose Provides Color on Basic Energy Services

Dahlman Rose provided color on Basic Energy Services BAS. In a research report published today, the rating agency stressed it is not too worried about the company's below consensus Q2 results. In the report, Dahlman Rose states, “Basic Energy Services reported 2Q11 operating EPS of $0.45, below consensus of $0.48 and our estimate of $0.49. GAAP EPS were $0.40 and included a one-time tax expense of $0.05 per share related to the early extinguishment of debt. While the below-consensus results might cause some temporary weakness in shares, we believe the company's earnings growth remains on track.” At the moment, Dahlman Rose has a Hold rating and a price target of $38 placed on the company's stock. On Thursday, BAS lost 0.46% of its value to finish the day at $36.84. Its shares continued to slide in today's pre-market trading, falling 0.14% to stand around $36.79.