Sterne Agee Cuts Numbers on RIM (RIMM) Ahead of Results
Tweet Send to a Friend
Get Alerts RIMM Hot Sheet
Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade RIMM Now!
Another day, another negative analyst report on Research In Motion Ltd. (NASDAQ: RIMM).
Today, Sterne Agee's Shaw Wu cut estimates on the BlackBerry maker ahead of quarterly results on June 28, 2012. The firm sees a slight miss versus the consensus of a slight profit of $0.01. Specifically, he sees revenues of $3 billion in revenue and $0.00 in EPS vs. consensus at $3.1 billion and $0.01 in EPS.
For next quarter, Wu believes the company will not offer guidance but he is anticipating a greater than expected operating loss due to our supply chain checks indicating sizable build plan cuts and pause ahead of BB10. "Our supply chain checks indicate sizable build plan reductions as much as 50% lower meaning BlackBerry unit run-rates could come in below 7 million per quarter vs. a peak of 14-15 million as recently as the November 2011 quarter," he commented.
For the August quarter, he now sees $2.8 billion in revenue and $(0.07) in EPS (from $2.96 billion and $0.03 in EPS) vs. consensus at $2.9 billion and $(0.02). For FY13, they are now at $11.6 billion and $0.00 (from $12 billion and $0.30 in EPS) vs. consensus at $12.8 billion and $0.45 in EPS.
While the valuation is depressed, Wu said he continues to be concerned with its fundamentals where the company faces major product transitions with its new BB10 OS late this year concerned with its fundamentals. The competitive environment is another concern.
Neutral
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 $9.11 yesterday, with a 52 week range of $9.01-$33.54.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Today, Sterne Agee's Shaw Wu cut estimates on the BlackBerry maker ahead of quarterly results on June 28, 2012. The firm sees a slight miss versus the consensus of a slight profit of $0.01. Specifically, he sees revenues of $3 billion in revenue and $0.00 in EPS vs. consensus at $3.1 billion and $0.01 in EPS.
For next quarter, Wu believes the company will not offer guidance but he is anticipating a greater than expected operating loss due to our supply chain checks indicating sizable build plan cuts and pause ahead of BB10. "Our supply chain checks indicate sizable build plan reductions as much as 50% lower meaning BlackBerry unit run-rates could come in below 7 million per quarter vs. a peak of 14-15 million as recently as the November 2011 quarter," he commented.
For the August quarter, he now sees $2.8 billion in revenue and $(0.07) in EPS (from $2.96 billion and $0.03 in EPS) vs. consensus at $2.9 billion and $(0.02). For FY13, they are now at $11.6 billion and $0.00 (from $12 billion and $0.30 in EPS) vs. consensus at $12.8 billion and $0.45 in EPS.
While the valuation is depressed, Wu said he continues to be concerned with its fundamentals where the company faces major product transitions with its new BB10 OS late this year concerned with its fundamentals. The competitive environment is another concern.
Neutral
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 $9.11 yesterday, with a 52 week range of $9.01-$33.54.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Sterne Agee Downgrades Beazer Homes (BZH) to Neutral
- UPDATE: Michael Kors (KORS) Under-Appreciated; Canaccord Genuity Starts at Buy
- First Time Cruisers Pass on Carnival (CCL); Wells Fargo Cuts to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Sterne Agee
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
