Notable Downgrades: Valeant (VRX), Equinix (EQIX), SanDisk (SNDK), General Motors (GM), Nucor (NUE)


Analysts at TD Securities downgraded Valeant Pharmaceuticals International, Inc. (VRX) from ‘Buy’ to ‘Hold’ in a research report issued to clients on Monday. The cut comes after the company announced that it would be postponing its earnings report, which was originally scheduled for this morning.

On valuation measures, Valeant Pharmaceuticals International Inc. stock it’s trading at a forward P/E multiple of 5.49x, and at a multiple of 42.13x this year’s estimated earnings. The t-12-month revenue at Valeant is $9.98 billion. VRX ‘s ROE for the same period is 10.41%.

Shares of the $25.03 billion market cap company are down 59.93% year-over-year and 20.66% year-to-date.

Valeant Pharmaceuticals Inc., currently with a median Street price target of $157.21, dropped $7.30 to $73.35 in recent trading.

Equinix, Inc. (EQIX) was downgraded from ‘Overweight’ to ‘Neutral’ at JP Morgan (JPM).

Shares have traded today between $303.61 and $308.77 with the price of the stock fluctuating between $219.30 to $318.36 over the last 52 weeks.

Equinix Inc. shares are currently changing hands at 95.50x this year’s forecasted earnings, compared to the industry’s 15.52x earnings multiple. Ticker has a t-12 price/sales ratio of 6.80. EPS for the same period registers at $3.21.

Shares of Equinix have lost $0.23 to $306.54 in morning trading on Monday, giving it a market cap of roughly $21.08 billion. The stock traded as high as $318.36 in January 11, 2016.

Pacific Crest reported on Monday that they have lowered their rating for SanDisk Corp. (SNDK). The firm has downgraded SNDK from ‘Overweight’ to ‘Sector Weight’.

SanDisk Corp. recently traded at $73.36, a gain of $1.26 over Friday’s closing price. The name has a current market cap of $14.75 billion.

As for passive income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 1.68%.

General Motors Company (GM) was downgraded by Argus from a ‘Buy’ rating to a ‘Hold’ rating in a research report issued to clients on Monday.

GM closed at $29.63 on Friday and is currently trading up $0.04.

In the past 52 weeks, shares of the automaker have traded between a low of $24.62 and a high of $38.99 and are now trading at $29.67.

Shares are down 17.80% year-over-year and 12.88% since the beginning of the year.

Nucor Corporation (NUE) had its rating lowered from ‘Overweight’ to ‘Sector Weight’ by analysts at KeyBanc Capital Markets on Monday.

Currently there are 12 analysts that rate NUE a ‘Buy’, no analysts rate it a ‘Sell’, and 8 rate it a ‘Hold’.

NUE was down $0.25 at $39.71 in midday trade, moving within a 52-week range of $33.90 to $50.70. The name, valued at $12.69 billion, opened at $39.31.

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