11:20 AM EST, 03/08/2024 (MT Newswires) -- National Bank on Friday noted that Dexterra Group Inc. ( HZNOF ) recorded "another miss" in the fourth quarter, driven by Modular.

The company's shares fell 11.6% on last look on Friday.

The company reported fourth-quarter revenue of $270.5 million, ahead of the NBF estimate of $265.2 million and in line with the Street's $269.3 million forecast.

Also, the bank noted that the company's adjusted EBITDA of $12.6 million was "disappointing" on 4.7% margins, well below the NBF estimate of $22.4 million forecast and consensus of $24.6 million.

The company reported an EPS of $0.00 versus the NBF estimate of $0.08, and the Street estimate of $0.13.

Further, National Bank noted that the company is in talks with a potential buyer for the sale of Modular. The sale will be reported as held for sale starting in the first quarter.

National Bank has an outperform rating and a price target of C$10.

Price: 5.69, Change: -0.55, Percent Change: -8.81