Nomura Securities maintains a 'Neutral' on Motorola Mobility (MMI); Q4 Results Disappoint; Weakness In Units and Margins
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Price: $31.58 --0%
Rating Summary:
4 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
4 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Nomura Securities maintains a 'Neutral' on Motorola Mobility Holdings (NYSE: MMI) price target of $40.00.
Analyst, Stuart Jeffrey, said, "Smartphone unit sales were 13% (0.8m) below expectations and feature phone sales 23% (1.5m) below. Tablet sales fell to a barely relevant 200,000 units. Group gross margins compressed by 90bp, and Mobile Phone EBIT margins (non-GAAP) fell 10bp to -0.7% despite a 4% sequential increase in revenue. 2012 estimates were cut 12% in revenue and 63% in EPS. This was driven by lower unit sale forecasts and weaker gross margins, offset only partially by lower opex. Handset margins (non-GAAP) are expected to be negative (-1.3%) in 2012, with Home at a robust 9%. The Google (Nasdaq: GOOG) acquisition is awaiting government clearance. We believe that the complexity of the deal may yet cause further delays, but we expect the deal to be approved without remedies."
For an analyst ratings summary and ratings history on Motorola Mobility Holdings click here. For more ratings news on Motorola Mobility Holdings click here.
Shares of Motorola Mobility Holdings closed at $38.87 yesterday.
Analyst, Stuart Jeffrey, said, "Smartphone unit sales were 13% (0.8m) below expectations and feature phone sales 23% (1.5m) below. Tablet sales fell to a barely relevant 200,000 units. Group gross margins compressed by 90bp, and Mobile Phone EBIT margins (non-GAAP) fell 10bp to -0.7% despite a 4% sequential increase in revenue. 2012 estimates were cut 12% in revenue and 63% in EPS. This was driven by lower unit sale forecasts and weaker gross margins, offset only partially by lower opex. Handset margins (non-GAAP) are expected to be negative (-1.3%) in 2012, with Home at a robust 9%. The Google (Nasdaq: GOOG) acquisition is awaiting government clearance. We believe that the complexity of the deal may yet cause further delays, but we expect the deal to be approved without remedies."
For an analyst ratings summary and ratings history on Motorola Mobility Holdings click here. For more ratings news on Motorola Mobility Holdings click here.
Shares of Motorola Mobility Holdings closed at $38.87 yesterday.
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