Goldman Sachs Cuts Numbers on Federal-Mogul (FDML) Following Q1 Results
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Price: $9.98 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs trimmed its price target on Neutral-rated Federal-Mogul (NASDAQ: FDML) from $18 to $16 and revised estiamtes following Q1 results.
The firm revised 2012/2013/2014 adjusted EBITDA estimates to $696mn/$779mn/$864mn from $753mn/$838mn/$929mn on more pronounced headwinds from mix in both the aftermarket and OE segments.
FY12 EPS goes from $2.02 to $1.63, FY13 goes from $2.22 to $1.85 and FY14 goes from $2.67 to $2.26.
The firm notes Q1 results lagged expectations due to a modest revenue shortfall in both the OE and aftermarket businesses and a weaker incremental margin. A bright spot was that the company may have moved past the upfront fixed-cost creep required to support its OE growth.
For an analyst ratings summary and ratings history on Federal-Mogul click here. For more ratings news on Federal-Mogul click here.
Shares of Federal-Mogul closed at $13.81 yesterday.
The firm revised 2012/2013/2014 adjusted EBITDA estimates to $696mn/$779mn/$864mn from $753mn/$838mn/$929mn on more pronounced headwinds from mix in both the aftermarket and OE segments.
FY12 EPS goes from $2.02 to $1.63, FY13 goes from $2.22 to $1.85 and FY14 goes from $2.67 to $2.26.
The firm notes Q1 results lagged expectations due to a modest revenue shortfall in both the OE and aftermarket businesses and a weaker incremental margin. A bright spot was that the company may have moved past the upfront fixed-cost creep required to support its OE growth.
For an analyst ratings summary and ratings history on Federal-Mogul click here. For more ratings news on Federal-Mogul click here.
Shares of Federal-Mogul closed at $13.81 yesterday.
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