Benchmark Cuts Price Target on FLIR Systems (FLIR) Following Q4 Results and FY12 Guidance
FLIR Hot Sheet
Rating Summary:4 Buy, 8 Hold, 1 Sell
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Benchmark is maintaining its Hold rating on shares of FLIR Systems, Inc. (NASDAQ: FLIR) and is lowering its price target from $28 to $25 following the release of its Q4 results.
The company reported mixed Q4 results as earnings topped expectations and sales feel short. The firm notes the miss was largely due to weaker business within its commercial and government sectors.
FLIR's management team offered FY12 guidance which called for revenues coming in below expectations while earnings fell inline. Benchmark highlights, "Guidance assumes a modest decline in Government but continued growth in Commercial and improved margin at both Raymarine and ICx."
The firm is lowering its FY12 sales estimate from $1.63 billion to $1.56 billion and is raising its EPS estimate slightly to $1.64 due to a lower than previously calculated share count.
For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.
Shares of FLIR Systems, Inc. closed at $24.90 yesterday, with a 52 week range of $21.86-$37.29.
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The company reported mixed Q4 results as earnings topped expectations and sales feel short. The firm notes the miss was largely due to weaker business within its commercial and government sectors.
FLIR's management team offered FY12 guidance which called for revenues coming in below expectations while earnings fell inline. Benchmark highlights, "Guidance assumes a modest decline in Government but continued growth in Commercial and improved margin at both Raymarine and ICx."
The firm is lowering its FY12 sales estimate from $1.63 billion to $1.56 billion and is raising its EPS estimate slightly to $1.64 due to a lower than previously calculated share count.
For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.
Shares of FLIR Systems, Inc. closed at $24.90 yesterday, with a 52 week range of $21.86-$37.29.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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