Zacks Investment Research Downgrades Motorola Solutions, Inc. (MSI) to Hold
Motorola Solutions, Inc. (NYSE:MSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Shares of Motorola Solutions have outperformed its industry in a year. The company has an impressive track record with respect to earnings having surpassed estimates in each of the preceding four quarters. We expect the company to deliver an impressive bottom line performance in the coming quarters as well. Also, the company raised its 2017 guidance for both revenues and earnings per share. In fact, Motorola’s efforts to reward its investors are also encouraging. However, we are concerned about the currency related headwinds arising from Motorola’s acquisition of Airwave Solutions among other factors. Though positive on growth by acquisition strategy, costs associated with the mergers are limiting bottom-line growth. Furthermore, its cash from operations declined substantially in the second quarter due to higher working capital requirement.”
A number of other research analysts have also commented on MSI. Citigroup Inc. reiterated a “buy” rating and set a $102.00 price target (up from $93.00) on shares of Motorola Solutions in a report on Friday, May 5th. Cowen and Company cut their price target on Motorola Solutions from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Friday, May 5th. Credit Suisse Group upped their price target on Motorola Solutions from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Deutsche Bank AG upped their price target on Motorola Solutions from $70.00 to $73.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, MKM Partners reiterated a “neutral” rating and set a $83.00 price target (up from $76.00) on shares of Motorola Solutions in a report on Monday, May 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Motorola Solutions presently has an average rating of “Buy” and a consensus price target of $94.33.
Motorola Solutions (MSI) traded up 0.60% on Monday, reaching $87.40. 330,016 shares of the company’s stock traded hands. The firm has a market capitalization of $14.22 billion, a P/E ratio of 23.05 and a beta of 0.32. The stock has a 50-day moving average of $88.86 and a 200 day moving average of $84.95. Motorola Solutions has a 52 week low of $71.24 and a 52 week high of $93.75.
Motorola Solutions (NYSE:MSI) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Motorola Solutions had a negative return on equity of 93.44% and a net margin of 10.38%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Motorola Solutions will post $5.29 EPS for the current fiscal year.
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In other news, EVP Eduardo F. Conrado sold 6,998 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.13, for a total transaction of $623,731.74. Following the sale, the executive vice president now owns 22,858 shares in the company, valued at $2,037,333.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bruce W. Brda sold 25,299 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.11, for a total value of $2,254,393.89. Following the sale, the executive vice president now owns 23,829 shares in the company, valued at approximately $2,123,402.19. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Motorola Solutions by 1.6% in the second quarter. Vanguard Group Inc. now owns 16,290,817 shares of the communications equipment provider’s stock valued at $1,413,066,000 after buying an additional 254,399 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Motorola Solutions by 6.7% in the second quarter. Lazard Asset Management LLC now owns 9,589,218 shares of the communications equipment provider’s stock valued at $831,768,000 after buying an additional 600,229 shares during the last quarter. State Street Corp boosted its stake in shares of Motorola Solutions by 1.8% in the second quarter. State Street Corp now owns 7,734,797 shares of the communications equipment provider’s stock valued at $670,905,000 after buying an additional 135,926 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of Motorola Solutions by 3.6% in the first quarter. Parnassus Investments CA now owns 7,319,437 shares of the communications equipment provider’s stock valued at $614,408,000 after buying an additional 256,152 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Motorola Solutions by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 5,458,346 shares of the communications equipment provider’s stock valued at $473,457,000 after buying an additional 110,330 shares during the last quarter. Institutional investors own 87.68% of the company’s stock.
About Motorola Solutions
Motorola Solutions, Inc is a provider of communication infrastructure, devices, accessories, software and services. The Company operates through two segments: Products and Services. The Company’s Products segment offers a portfolio of infrastructure, devices, accessories and software. The Products segment has two product lines: Devices and Systems.
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