October 14, 2009 / 3:29 PM / 9 years ago

UPDATE 1-Carbo Ceramics, Cameron Q3 may top view: Pritchard

Oct 14 (Reuters) - Cameron International Corp CAM.N and Carbo Ceramics Inc (CRR.N) are expected to post quarterly earnings above market estimates, said Pritchard Capital Partners, which upgraded Carbo Ceramics by a notch to “buy.”

Shares of both Carbo Ceramics and Cameron International rose as much as 3 percent to their new 52-week highs in early trade on Wednesday.

Oilfield services company Carbo Ceramics will show increasing volumes and margins and possess a very positive outlook, analyst Brian Uhlmer said.

Carbo Ceramics, which is his top pick heading into earnings, is expected to earn 44 cents a share for the quarter, topping the consensus view of 41 cents.

He has a short-term price target of $60 on Carbo’s stock.

The analyst said another favorite name of his is Cameron for both long term and heading in to earnings, adding that his third-quarter estimates for the company might be too conservative, given the strong order rates.

“Based on activity levels we think that our $225 million order rate for the Valves & Measurement segment may be too conservative and an area that could exceed all analysts’ expectations,” Uhlmer wrote in a note to clients.

Uhlmer expects a quarterly profit of 50 cents a share for the company, below the consensus view of 53 cents.

“Exceeding 55 cents is very likely,” Uhlmer said.

He expects orders of $1.5 billion for the company, including $500 million from the recently announced Petrobras (PETR4.SA) deal.

Cameron had struck a subsea equipment deal in the offshore Brazil market last month.[ID:nN28107094]

“We believe that a beat on earnings and a beat on orders will push the stock higher,” Uhlmer said.

Shares of Carbo Ceramics were up 2 percent at $53.92, while those of Cameron rose 3 percent to $41 in morning trade on the New York Stock Exchange. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Deepak Kannan)

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