MKM Partners Maintains a 'Neutral' on Motorola Solutions (MSI); Cutting Estimates on Increased Concerns
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Price: $57.81 +0.57%
Rating Summary:
6 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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MKM Partners maintains a 'Neutral' on Motorola Solutions Inc. (NYSE: MSI) price target of $50.00 (from $55.00).
Analyst, Michael Genovese, said, "We are increasingly worried about Enterprise and the timing of Government LTE sales. MSI reported 2Q revenue of $2.148bn and $0.70 in EPS compared to our $2.123bn and $0.68 estimates. Narrow banding contributed at least $40mn in Government revenues in the quarter. The company guided 3Q12 below expectations, but 4Q12 in line, partially based on anticipation of a strong narrow banding budget flush before the FCC deadline on December 31. We are increasingly concerned about the 2013 outlook since meaningful Public Safety LTE sales are potentially years away. We are also concerned about the weakening Enterprise margins and growth rate. On the positive side, MSI increased its quarterly dividend and share buyback authorization."
For an analyst ratings summary and ratings history on Motorola Solutions Inc. click here. For more ratings news on Motorola Solutions Inc. click here.
Shares of Motorola Solutions Inc. closed at $47.81 yesterday, with a 52 week range of $38.36-$52.78.
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Analyst, Michael Genovese, said, "We are increasingly worried about Enterprise and the timing of Government LTE sales. MSI reported 2Q revenue of $2.148bn and $0.70 in EPS compared to our $2.123bn and $0.68 estimates. Narrow banding contributed at least $40mn in Government revenues in the quarter. The company guided 3Q12 below expectations, but 4Q12 in line, partially based on anticipation of a strong narrow banding budget flush before the FCC deadline on December 31. We are increasingly concerned about the 2013 outlook since meaningful Public Safety LTE sales are potentially years away. We are also concerned about the weakening Enterprise margins and growth rate. On the positive side, MSI increased its quarterly dividend and share buyback authorization."
For an analyst ratings summary and ratings history on Motorola Solutions Inc. click here. For more ratings news on Motorola Solutions Inc. click here.
Shares of Motorola Solutions Inc. closed at $47.81 yesterday, with a 52 week range of $38.36-$52.78.
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