Cameron Int'l Reports 2Q Surprise

Cameron International CAM reported solid 2Q results due to strong DPS margins on clean execution and positive mix, according to Jefferies & Company. 2Q EPS were $0.58 vs. $0.54 via consensus and Jefferies, and over EBITDA margins increased to 18.1% from 17.5%, exceeding the 17% forecast led by DPS. The DPS margins had been expected to slip to 19.1% from 20.1%, but instead increased to 20.6%, according to Jefferies. Jefferies maintains its "buy" rating and price target of $52. Cameron International closed yesterday at $38.98.