KPMG Consulting Gets 'Dog of the Day' Rating

With the excitement about KPMG Consulting's recent IPO wearing off, market analysts are lining up with their ratings of the stock, and the Monday 6% drop to $17.88 per share caused Forbes.com to give the stock its "Dog of the Day" ranking.

KPMG Consulting's February IPO is the biggest US IPO of the year so far, and the float has been considered successful to date. Wall Street is now covering the stock's performance, and Monday's ratings were slightly lower than what some investors expected. Only one of the powerhouses gave the stock its highest "buy" rating.

Goldman Sachs rated KPMG Consulting, trading as KCIN, "market outperformer." J.P. Morgan gave the stock a "buy" rating with an expected 12-month target of $30 per share.

Merrill Lynch assigned a near-term "accumulate" rating with a 12-18 month target price of $28 per share. Merrill Lynch is also estimating that the stock will earn 91 cents per share for 2001 and $1.40 per share for 2002.

KCIN has traded in the range of $18-3/16 to $24-1/4 since its initial public offering.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.