Dougherty Cuts Price Target & Estimates on Power-One (PWER) Following New Q3 Guidance
Tweet
Share
E-mailGet Alerts PWER Hot Sheet
Price: $46.66 +2.50%
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Dougherty & Co is reaffirming its Buy rating on shares of Power-One (NASDAQ: PWER), but is cutting its price target from $9 to $6 following pre-announced Q3 results.
The company's new Q3 guidance calls for $240-$245 million in revenue, well below its previous outlook of $265-$285 million. To go inline with its new guidance, the firm is lowering its Q3 EPS and revenue estimates from $0.22 and $265 million to $0.19 and $244 million. The Street was previously at $0.23 in EPS with $273 million in revenue.
Management at Power-One will update its fiscal 2011 results during its third quarter conference call. The firm believes that global macro uncertiainty will remain in the near term and is cutting its Q4 EPS and revenue estimates from $0.24 and $290 million to $0.20 and $260 million.
For 2012, Dougherty & Co is reducing its EPS and revenue estimates from $0.96 and $1.15 billion to $0.79 and $1 billion.
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $5.04 yesterday.
The company's new Q3 guidance calls for $240-$245 million in revenue, well below its previous outlook of $265-$285 million. To go inline with its new guidance, the firm is lowering its Q3 EPS and revenue estimates from $0.22 and $265 million to $0.19 and $244 million. The Street was previously at $0.23 in EPS with $273 million in revenue.
Management at Power-One will update its fiscal 2011 results during its third quarter conference call. The firm believes that global macro uncertiainty will remain in the near term and is cutting its Q4 EPS and revenue estimates from $0.24 and $290 million to $0.20 and $260 million.
For 2012, Dougherty & Co is reducing its EPS and revenue estimates from $0.96 and $1.15 billion to $0.79 and $1 billion.
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $5.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
Create E-mail Alert Related Categories
Analyst CommentsSign 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!
