Needham & Company Maintains a 'Hold' on Aeroflex (ARX); Cautious Outlook Overshadows Strong Results
Tweet
Share
E-mailGet Alerts ARX Hot Sheet
Price: $19.59 +0.10%
Rating Summary:
4 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
4 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
- Kotak Upgrades Narayana Hrudayalaya Ltd (NARH:IN) to Buy (1)
- UBS Downgrades Klarna (KLAR) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & CompanySign 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!
