Sterne Agee Maintains a 'Neutral' on Dell (DELL); Cutting Estimates on Surprise Q1
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Price: $13.40 -0.22%
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Sterne Agee maintains a 'Neutral' on Dell (NASDAQ: DELL).
Analyst, Shaw Wu, said, "DELL reported a surprising miss despite low expectations. Company attributed this to weaker IT spending, poor execution, and competition. Looking in retrospect, we should have left our Underperform rating. However, we believe downside risk is limited with shares indicating $13 meaning 6x CY13 EPS (4x ex. net cash). Of note, DELL acknowledged competition from Apple (Nasdaq: AAP)L and Google (Nasdaq: GOOG) for the first time."
"For FY13, we are now at $61 billion and $2.00 in EPS (from $62.6 billion and $2.10 in EPS) vs. consensus at $62.3 billion and $2.11 in EPS. For FY14, we are introducing estimates of $64 billion and $2.15 in EPS vs. consensus at $63.4 billion and $2.21 in EPS."
For an analyst ratings summary and ratings history on Dell click here. For more ratings news on Dell click here.
Shares of Dell closed at $15.08 yesterday, with a 52 week range of $13.29-$18.36.
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Analyst, Shaw Wu, said, "DELL reported a surprising miss despite low expectations. Company attributed this to weaker IT spending, poor execution, and competition. Looking in retrospect, we should have left our Underperform rating. However, we believe downside risk is limited with shares indicating $13 meaning 6x CY13 EPS (4x ex. net cash). Of note, DELL acknowledged competition from Apple (Nasdaq: AAP)L and Google (Nasdaq: GOOG) for the first time."
"For FY13, we are now at $61 billion and $2.00 in EPS (from $62.6 billion and $2.10 in EPS) vs. consensus at $62.3 billion and $2.11 in EPS. For FY14, we are introducing estimates of $64 billion and $2.15 in EPS vs. consensus at $63.4 billion and $2.21 in EPS."
For an analyst ratings summary and ratings history on Dell click here. For more ratings news on Dell click here.
Shares of Dell closed at $15.08 yesterday, with a 52 week range of $13.29-$18.36.
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