Ticonderoga Maintains a 'Neutral' on Molex Incorporated (MOLX); Japan Overshadows Further Progress at Molex
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Price: $38.68 --0%
Rating Summary:
2 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga maintains a 'Neutral' on Molex Incorporated (NASDAQ: MOLX).
Ticonderoga analyst says, "Last night, Molex reported 3QFY11 sales of $874.5 million (down 3% Q/Q) that were marginally below our estimate of $878.0 million, while pro forma EPS of $0.39 came up short of our $0.42 estimate (Street was also at $0.42). The events in Japan negatively impacted EPS by $0.02, while legal fees shaved off another $0.01. Overall, we believe Molex showed further progress in turning the company around and moving toward its 14% operating margin goal; however, the situation in Japan is likely to overshadow this progress in the near term, and the stock has already had a healthy 19% run this year."
"Looking into 4QFY11, Molex expects sales of $900 million to $930 million with a pro forma EPS in a range of $0.42 to $0.48. Japan is expected to negatively impact June quarter revenue by $20 million and EPS by $0.05, while Japan litigation expenses are expected to negatively impact EPS by $0.01. For the June quarter, we are increasing our revenue estimate to $925.1 million from $910.1 million, while reducing our pro forma EPS projection to $0.46 from $0.47. As such, we are increasing our FY11 revenue estimate marginally to $3.60 billion from $3.59 billion, while cutting our pro forma EPS estimate to $1.75 from $1.80. For FY12, we are raising our revenue estimate to $3.86 billion from $3.79 billion but reducing our pro forma EPS estimate to $2.05 from $2.07."
For more ratings news on Molex Incorporated click here and for the rating history of Molex Incorporated click here.
Shares of Molex Incorporated closed at $26.63 yesterday.
Ticonderoga analyst says, "Last night, Molex reported 3QFY11 sales of $874.5 million (down 3% Q/Q) that were marginally below our estimate of $878.0 million, while pro forma EPS of $0.39 came up short of our $0.42 estimate (Street was also at $0.42). The events in Japan negatively impacted EPS by $0.02, while legal fees shaved off another $0.01. Overall, we believe Molex showed further progress in turning the company around and moving toward its 14% operating margin goal; however, the situation in Japan is likely to overshadow this progress in the near term, and the stock has already had a healthy 19% run this year."
"Looking into 4QFY11, Molex expects sales of $900 million to $930 million with a pro forma EPS in a range of $0.42 to $0.48. Japan is expected to negatively impact June quarter revenue by $20 million and EPS by $0.05, while Japan litigation expenses are expected to negatively impact EPS by $0.01. For the June quarter, we are increasing our revenue estimate to $925.1 million from $910.1 million, while reducing our pro forma EPS projection to $0.46 from $0.47. As such, we are increasing our FY11 revenue estimate marginally to $3.60 billion from $3.59 billion, while cutting our pro forma EPS estimate to $1.75 from $1.80. For FY12, we are raising our revenue estimate to $3.86 billion from $3.79 billion but reducing our pro forma EPS estimate to $2.05 from $2.07."
For more ratings news on Molex Incorporated click here and for the rating history of Molex Incorporated click here.
Shares of Molex Incorporated closed at $26.63 yesterday.
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