On Wednesday we’ll get to see earnings out of Fuel-Tech, Inc. (NASDAQ: FTEK). The estimates for the combustion engineering solutions provider (cleaner coal) from First Call are $0.17 EPS and $28.04 million in revenues. Next quarter estimates are $0.12 EPS and $25.39 million in revenues. Estimates for fiscal 2008 are $0.55 EPS on $107.87 million in revenues. As there were discrepancies and as many analysts have changed targets on this one ahead of earnings, we’ll make an update on any key changes before the earnings release.
Analysts have an average price target north of $31.00, still some 50% north of current prices. Fuel-Tech’s 52-week trading range is $14.15 to $38.20. This remains one of the key potential beneficiaries of high coal demand and the need to clean up the coal process. But its valuations and its stage where it is still dependent upon individual contracts have plagued the company for some time. This is one of the more volatile names in all of the cleaner energy and alternative energy sectors, and its guidance is more important than current numbers for determining forward valuations.
Jon C. Ogg
March 1, 2008
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