Canaccord Genuity Reaffirms Hold Rating on Research In Motion (RIMM)
RIMM has been the subject of a number of other recent research reports. Analysts at FBR Capital (NASDAQ: FBCM) cut their price target on shares of Research In Motion from $11.00 to $9.50 in a research note to investors on Wednesday. They now have an “underperform” rating on the stock. Separately, analysts at JMP Securities upgraded shares of Research In Motion from an “underperform” rating to a “market perform” rating in a research note to investors on Wednesday. They noted that the move was a valuation call. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of Research In Motion in a research note to investors on Tuesday.
Research In Motion traded down 0.59% on Wednesday, hitting $10.29. Research In Motion has a 52-week low of $10.01 and a 52-week high of $41.27. The company has a market cap of $5.304 billion and a price-to-earnings ratio of 4.66.
Research In Motion last posted its quarterly earnings results on Thursday, March 29th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.81 by $0.01. Research In Motion’s revenue was down 24.6% compared to the same quarter last year. Analysts expect that Research In Motion will post $0.06 EPS next quarter.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.