ThinkEquity Reaffirms Hold Rating on Research In Motion (RIMM)
Shares of Research In Motion traded down 0.40% during mid-day trading on Wednesday, hitting $10.31. Research In Motion has a one year low of $10.01 and a one year high of $41.27. The company has a market cap of $5.314 billion and a P/E ratio of 4.66.
Research In Motion last issued its quarterly earnings data 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. On average, analysts predict that Research In Motion will post $0.06 earnings per share next quarter.
A number of other firms have also recently commented on RIMM. Analysts at BGC Financial reiterated a “sell” rating on shares of Research In Motion in a research note to investors on Wednesday. Separately, analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Research In Motion from $10.00 to $8.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Citigroup (NYSE: C) cut their price target on shares of Research In Motion to $9.50 in a research note to investors on Wednesday.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.