Needham & Company Maintains a 'Hold' on Aeroflex (ARX); Cautious Outlook Overshadows Strong Results
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Price: $19.58 +0.36%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Aeroflex Holding (NYSE: ARX).
Analyst, N. Quinn Bolton, said, "Aeroflex reported F2Q12 results that exceeded guidance and our estimates. However, a cautious outlook for F3Q12 and reduced guidance for FY12 overshadowed the strong F2Q12 results. Like many of its peers, Aeroflex is experiencing reduced visibility due to economic uncertainty in the commercial wireless segment and Europe in general as well as uncertainty in U.S. defense spending. With downward revisions to our forward estimates, we maintain our Hold rating. However, reflecting management’s more conservative guidance, we believe the company is better positioned to meet or exceed expectations."
"We have reduced our F3Q12 revenue, Adjusted EBITDA and non-GAAP EPS estimates to $172MM/$34.5MM/$0.16 from $180MM/$42.8MM/$0.23. Our FY12 estimates decline to $700MM/$148.1MM/$0.73 from $712.4MM/$156.6MM/$0.80. Our FY13 estimates decline to $780MM/$198.3MM/$1.10 from $800MM/$205.4MM/$1.15."
For an analyst ratings summary and ratings history on Aeroflex Holding click here. For more ratings news on Aeroflex Holding click here.
Shares of Aeroflex Holding closed at $11.60 yesterday.
Analyst, N. Quinn Bolton, said, "Aeroflex reported F2Q12 results that exceeded guidance and our estimates. However, a cautious outlook for F3Q12 and reduced guidance for FY12 overshadowed the strong F2Q12 results. Like many of its peers, Aeroflex is experiencing reduced visibility due to economic uncertainty in the commercial wireless segment and Europe in general as well as uncertainty in U.S. defense spending. With downward revisions to our forward estimates, we maintain our Hold rating. However, reflecting management’s more conservative guidance, we believe the company is better positioned to meet or exceed expectations."
"We have reduced our F3Q12 revenue, Adjusted EBITDA and non-GAAP EPS estimates to $172MM/$34.5MM/$0.16 from $180MM/$42.8MM/$0.23. Our FY12 estimates decline to $700MM/$148.1MM/$0.73 from $712.4MM/$156.6MM/$0.80. Our FY13 estimates decline to $780MM/$198.3MM/$1.10 from $800MM/$205.4MM/$1.15."
For an analyst ratings summary and ratings history on Aeroflex Holding click here. For more ratings news on Aeroflex Holding click here.
Shares of Aeroflex Holding closed at $11.60 yesterday.
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