Cantor Fitzgerald Downgrades Real Goods Solar (RSOL) to Hold; Weak Qtr and Disappointing Guidance
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Price: $3.81 -0.52%
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Cantor Fitzgerald downgraded Real Goods Solar (NASDAQ: RSOL) from Buy to Hold, price target cut from $5 to $2.
Analyst, Dale R. Pfau, said, "The company reported a quarter slightly worse than we expected, and substantially cut 2012 guidance. As a consequence, we believe that the company will struggle to show meaningful profitability and attract investor interest in the near/intermediate term. Therefore, we are lowering our investment rating...For 4Q:11, the company reported break-even results on revenues of $40.3 million compared with our estimate of $0.05 on $45 million. The company did record $827k ($0.03 per share) in charges. This was the first full quarter including the financial results of the merged Alteris. Gross margins of 23.9% were better than our estimate of 22% and were negatively affected by higher commercial revenues."
For an analyst ratings summary and ratings history on Real Goods Solar click here. For more ratings news on Real Goods Solar click here.
Shares of Real Goods Solar closed at $1.41 yesterday.
Analyst, Dale R. Pfau, said, "The company reported a quarter slightly worse than we expected, and substantially cut 2012 guidance. As a consequence, we believe that the company will struggle to show meaningful profitability and attract investor interest in the near/intermediate term. Therefore, we are lowering our investment rating...For 4Q:11, the company reported break-even results on revenues of $40.3 million compared with our estimate of $0.05 on $45 million. The company did record $827k ($0.03 per share) in charges. This was the first full quarter including the financial results of the merged Alteris. Gross margins of 23.9% were better than our estimate of 22% and were negatively affected by higher commercial revenues."
For an analyst ratings summary and ratings history on Real Goods Solar click here. For more ratings news on Real Goods Solar click here.
Shares of Real Goods Solar closed at $1.41 yesterday.
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