Nomura Securities Maintains a 'Neutral' on Leap Wireless (LEAP); Cutting Price Target
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Price: $10.02 --0%
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
3 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Nomura Securities maintains a 'Neutral' on Leap Wireless (NASDAQ: LEAP) price target lowered from $10 to $8.50.
Analyst, Mike McCormack, said, "Leap reported subscriber additions and ARPU of 258k and $42.59, compared to our 243k and $42.66 estimates. EBITDA of $131mn was below our estimate of $143mn, and capex of $146mn exceeded our $140mn estimate. Combined with unfavorable working capital changes, free cash flow of negative $111mn was well below our $86mn estimate. With a higher cost of growth likely to persist, we have pushed out our expectations for FCF generation from 2013 to 2014. Our 2012E/2013E EPS goes from ($4.28)/($2.79) to ($4.19)/($3.40)."
For an analyst ratings summary and ratings history on Leap Wireless click here. For more ratings news on Leap Wireless click here.
Shares of Leap Wireless closed at $7.71 yesterday.
Analyst, Mike McCormack, said, "Leap reported subscriber additions and ARPU of 258k and $42.59, compared to our 243k and $42.66 estimates. EBITDA of $131mn was below our estimate of $143mn, and capex of $146mn exceeded our $140mn estimate. Combined with unfavorable working capital changes, free cash flow of negative $111mn was well below our $86mn estimate. With a higher cost of growth likely to persist, we have pushed out our expectations for FCF generation from 2013 to 2014. Our 2012E/2013E EPS goes from ($4.28)/($2.79) to ($4.19)/($3.40)."
For an analyst ratings summary and ratings history on Leap Wireless click here. For more ratings news on Leap Wireless click here.
Shares of Leap Wireless closed at $7.71 yesterday.
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