Canaccord Genuity Maintains a 'Hold' on Powerwave (PWAV); Cutting Estimates on Disappointing Q1
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Price: $0.06 --0%
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Powerwave Technologies (NASDAQ: PWAV) price target of $1.00.
Analyst, T. Michael Walkley, said, "Consistent with Powerwave’s pre-announcement and our checks indicating continued soft wireless carrier network capex in Q1/12, Powerwave reported Q1/12 sales of $43.3M and pro-forma LPS of $(1.25) versus our $43.6M/$(0.73) estimates. While we anticipate improving capex trends through the remainder of 2012 starting in the June quarter, we anticipate sizable losses for Powerwave for the remainder of the year as the company focuses on its restructuring plans. While we believe Powerwave has enough cash to fund the business through this difficult restructuring, we maintain our rating."
Walkley lowers FY12 loss from (1.53) to (2.48), but maintains 2013 at $0.08.
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 $0.99 yesterday.
Analyst, T. Michael Walkley, said, "Consistent with Powerwave’s pre-announcement and our checks indicating continued soft wireless carrier network capex in Q1/12, Powerwave reported Q1/12 sales of $43.3M and pro-forma LPS of $(1.25) versus our $43.6M/$(0.73) estimates. While we anticipate improving capex trends through the remainder of 2012 starting in the June quarter, we anticipate sizable losses for Powerwave for the remainder of the year as the company focuses on its restructuring plans. While we believe Powerwave has enough cash to fund the business through this difficult restructuring, we maintain our rating."
Walkley lowers FY12 loss from (1.53) to (2.48), but maintains 2013 at $0.08.
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 $0.99 yesterday.
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