Barrington Research Cuts Price Target on Molex Inc. (MOLX), Weak Gudiance and Market Trends

Barrington Research is reaffirming its Outperform rating on shares of Molex Incorporated (NASDAQ: MOLX) while lowering its price target from $32 to a range of $26 to $28.

The company released its Q4 results inline with its previous guidance, but below what the firm and consensus was anticipating. Sales rose 7.8 percent to $913.7 million as earnings almost doubled year-over-year to $0.44 from $0.23.

For Q1 2012, management released its guidance with a revenue range of $880-$920 million and a EPS range of $0.39-$0.45. The outlook is below the consensus which was anticipating $945.8 million in revenue with $0.49 in EPS.

As a result of current market trends and weak Q1 guidance, Barrington Research is reducing its 2012 EPS estimate from $2.08 to $1.81 and is introducing its 2013 estimate at $2.04.

The firm notes that the company is dealing with some economic headwinds that may place some pressure on shares of MOLX in the near term.

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 $20.18 yesterday.

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