Why Shares of FactSet Fell 10% in September
Shares of FactSet Research Systems (NYSE: FDS) were down 10.7% in September, according to data provided by S&P Global Market Intelligence, with nearly the entire drop coming after the company reported quarterly earnings. The quarter was fine, but investors were disappointed by the financial-data provider's outlook for its new fiscal year.
FactSet shares were flat for the month heading into the company's Sept. 26 earnings report. The company reported fiscal fourth-quarter earnings of $2.61 per share, easily besting the $2.47 consensus, but investors were more focused on FactSet's guidance for $9.85 per share to $10.15 per share in earnings in the new fiscal year. Analysts had been expecting full year earnings of $10.52 per share next year.
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Source Fool.com
