Brean Murray Carret & Co. Downgrades THQ Inc. (THQI) to Hold; Staggering Shortfall
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Price: $0.31 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
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Brean Murray Carret & Co. downgraded THQ Inc. (NASDAQ: THQI) from Buy to Hold.
Brean analyst says, "Last night, THQ announced that fiscal 3Q12 revenues could come in 25% below guidance of $510-$550 million due to weaker-than-expected uDraw sales. On the one hand, this shortfall is likely to result in a liquidity crunch, putting the THQ's viability into question. On the other, shares have already pulled back to the point where they are trading at an option value for the company actually not going out of business."
Brean lowers FY12 EPS estimate from (0.20) to (1.62) and FY13 from $0.40 to $0.15. FY12 revenues are lowered from $945 million to $806 million.
For an analyst ratings summary and ratings history on THQ Inc. click here. For more ratings news on THQ Inc. click here.
Shares of THQ Inc. closed at $1.46 yesterday.
Brean analyst says, "Last night, THQ announced that fiscal 3Q12 revenues could come in 25% below guidance of $510-$550 million due to weaker-than-expected uDraw sales. On the one hand, this shortfall is likely to result in a liquidity crunch, putting the THQ's viability into question. On the other, shares have already pulled back to the point where they are trading at an option value for the company actually not going out of business."
Brean lowers FY12 EPS estimate from (0.20) to (1.62) and FY13 from $0.40 to $0.15. FY12 revenues are lowered from $945 million to $806 million.
For an analyst ratings summary and ratings history on THQ Inc. click here. For more ratings news on THQ Inc. click here.
Shares of THQ Inc. closed at $1.46 yesterday.
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