Jefferies Maintains a 'Hold' on Powerwave Technologies (PWAV); Cutting Numbers on Q1 Pre-Announcement
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Price: $0.06 --0%
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 20
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 20
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Jefferies maintains a 'Hold' on Powerwave Technologies (NASDAQ: PWAV) price target raised from $1.15 to $2.00.
Analyst, Peter Misek, said, "As we feared, management's guidance for Q1 revenues being up Q/Q proved too optimistic. PWAV is now guiding to $40-$45M (down 25%-33% Q/Q) with no further details. The key is AT&T (NYSE: T). Our checks indicate that AT&T orders are finally flowing to customers in Q2, but we have not been able to determine if PWAV has maintained its share at AT&T. Due to this binary situation, we maintain our Hold."
"We cut our Q1 EPS estimate from $(0.83) to $(0.86) vs St $(0.67) with the caveat that the non-GAAP tax expense (which we have little insight to) will likely have a bigger impact on EPS than does gross profit. (FY 12 lowered from (2.65) to (2.76))
For an analyst ratings summary and ratings history on Powerwave Technologies click here. For more ratings news on Powerwave Technologies click here.
Shares of Powerwave Technologies closed at $2.15 yesterday.
Analyst, Peter Misek, said, "As we feared, management's guidance for Q1 revenues being up Q/Q proved too optimistic. PWAV is now guiding to $40-$45M (down 25%-33% Q/Q) with no further details. The key is AT&T (NYSE: T). Our checks indicate that AT&T orders are finally flowing to customers in Q2, but we have not been able to determine if PWAV has maintained its share at AT&T. Due to this binary situation, we maintain our Hold."
"We cut our Q1 EPS estimate from $(0.83) to $(0.86) vs St $(0.67) with the caveat that the non-GAAP tax expense (which we have little insight to) will likely have a bigger impact on EPS than does gross profit. (FY 12 lowered from (2.65) to (2.76))
For an analyst ratings summary and ratings history on Powerwave Technologies click here. For more ratings news on Powerwave Technologies click here.
Shares of Powerwave Technologies closed at $2.15 yesterday.
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