Goldman Sachs Slashes Numbers on Research In Motion (RIMM); One Word - Startling
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade RIMM Now!
Goldman Sachs maintains a 'Neutral' on Research In Motion Ltd. (NASDAQ: RIMM) price target of $9.00 (from $13.00).
Analyst, Simona Jankowski, said, "In our view, RIM’s results were startlingly weak, as it appears to us that its unit miss came despite the fact that it likely sold its smartphones below cost. We estimate its hardware gross margin was -10%, which is unprecedented in recent handset history...Disappointingly, BlackBerry 10 was pushed out to 1Q13 from 2H12, implying deeper losses in the next few quarters..."
FY13 EPS estimate cut from $1.00 to (1.31), FY14 from $1.06 to (0.64), and FY15 from (0.06) to (1.37)
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $9.13 yesterday, with a 52 week range of $8.83-$33.54.
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Analyst, Simona Jankowski, said, "In our view, RIM’s results were startlingly weak, as it appears to us that its unit miss came despite the fact that it likely sold its smartphones below cost. We estimate its hardware gross margin was -10%, which is unprecedented in recent handset history...Disappointingly, BlackBerry 10 was pushed out to 1Q13 from 2H12, implying deeper losses in the next few quarters..."
FY13 EPS estimate cut from $1.00 to (1.31), FY14 from $1.06 to (0.64), and FY15 from (0.06) to (1.37)
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $9.13 yesterday, with a 52 week range of $8.83-$33.54.
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