Needham & Company Maintains a 'Hold' on FLIR Systems (FLIR); Cutting Estimates After Q4 Report
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Price: $57.34 --0%
Rating Summary:
3 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on FLIR Systems (NASDAQ: FLIR).
Analyst, James Ricciuti, said, "FLIR posted weaker than expected Q4 revenues, but exceeded Street EPS expectations, largely the result of lower op-ex. Backlog was down in the Gov’t Systems business, with FLIR facing another tough year, although profit margins remain healthy in both the commercial and government systems businesses. Management guidance for 2012 was essentially in line with expectations, with Q1 EPS likely to be flat with year-ago results. FLIR expects its Gov’t Systems business to be down in 2012, while the Commercial business is likely to be up in the upper single digits. We believe there is limited downside risk in the stock at current levels; however, we don’t see an upside catalyst either."
"We are reducing our 2012 EPS estimate to $1.63 from $1.68 on revenue of $1.55B, down from our prior $1.68B estimate. We are initiating a 2013 EPS estimate of $1.85 on revenues of $1.7B."
For an analyst ratings summary and ratings history on FLIR Systems click here. For more ratings news on FLIR Systems click here.
Shares of FLIR Systems closed at $24.90 yesterday.
Analyst, James Ricciuti, said, "FLIR posted weaker than expected Q4 revenues, but exceeded Street EPS expectations, largely the result of lower op-ex. Backlog was down in the Gov’t Systems business, with FLIR facing another tough year, although profit margins remain healthy in both the commercial and government systems businesses. Management guidance for 2012 was essentially in line with expectations, with Q1 EPS likely to be flat with year-ago results. FLIR expects its Gov’t Systems business to be down in 2012, while the Commercial business is likely to be up in the upper single digits. We believe there is limited downside risk in the stock at current levels; however, we don’t see an upside catalyst either."
"We are reducing our 2012 EPS estimate to $1.63 from $1.68 on revenue of $1.55B, down from our prior $1.68B estimate. We are initiating a 2013 EPS estimate of $1.85 on revenues of $1.7B."
For an analyst ratings summary and ratings history on FLIR Systems click here. For more ratings news on FLIR Systems click here.
Shares of FLIR Systems closed at $24.90 yesterday.
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