FBR Capital Maintains a 'Market Perform' on Leap Wireless (LEAP); Solid 1Q11 Results; Trends to Continue in 2Q11 but Regional to National Transition May Pressure Margins
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Price: $10.02 --0%
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Leap Wireless (NASDAQ: LEAP), PT $12.
FBR analyst says, "We are raising our FY11 revenue estimate from $3.1 billion to $3.2 billion driven by an increase in FY11 ARPU and increased equipment revenues. However, we are also lowering our FY11 adjusted EBITDA estimate from $517 million to $485 million due primarily to increases in cost of service and cost of equipment. We are also introducing our FY12 estimates of $3.8 billion in revenues, $528 million in EBITDA, and ($2.71) in operating EPS."
"We rate shares of both LEAP and MetroPCS (NYSE: PCS) Market Perform; we prefer shares of Sprint Nextel Corporation (NYSE: S)(Outperform) to both. Between LEAP and PCS, we are more likely to turn negative on shares of LEAP before shares of PCS."
For more ratings news on Leap Wireless click here and for the rating history of Leap Wireless click here.
Shares of Leap Wireless closed at $15.07 yesterday.
FBR analyst says, "We are raising our FY11 revenue estimate from $3.1 billion to $3.2 billion driven by an increase in FY11 ARPU and increased equipment revenues. However, we are also lowering our FY11 adjusted EBITDA estimate from $517 million to $485 million due primarily to increases in cost of service and cost of equipment. We are also introducing our FY12 estimates of $3.8 billion in revenues, $528 million in EBITDA, and ($2.71) in operating EPS."
"We rate shares of both LEAP and MetroPCS (NYSE: PCS) Market Perform; we prefer shares of Sprint Nextel Corporation (NYSE: S)(Outperform) to both. Between LEAP and PCS, we are more likely to turn negative on shares of LEAP before shares of PCS."
For more ratings news on Leap Wireless click here and for the rating history of Leap Wireless click here.
Shares of Leap Wireless closed at $15.07 yesterday.
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