Nomura Securities Reiterates a 'Neutral' on WMS Industries (WMS); Revising Estimate Post FQ2’12 Earnings

Nomura Securities reiterates a 'Neutral' on WMS Industries (NYSE: WMS) price target raised from $20 to $22.

Analyst, Harry Curtis, said, "Our gaming operations estimates are essentially unchanged. However, we are trimming our product sales estimates. FYQ2’12 N.A. Replacement sales were lower than expected, so we trimmed our FY2012 N.A replacement units to 9,269 from 12,100. Our FY’12 EPS est. now $1.46 from $1.57 while FY’13 is $1.66 from $1.56, which offers ~12% 2-yr CAGR EPS growth between FY’11-‘13, not enough for multiple expansion, in our view."

For an analyst ratings summary and ratings history on WMS Industries click here. For more ratings news on WMS Industries click here.

Shares of WMS Industries closed at $23.70 yesterday.

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