Analysts at FBR Capital (NASDAQ: FBCM) decreased their price target on shares of Research In Motion (NASDAQ: RIMM) from $11.00 to $9.50 in a research report issued to clients and investors on Wednesday. The firm currently has an “underperform” rating on the stock.
A number of other firms have also recently commented on RIMM. 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. Separately, analysts at Wedbush reiterated a “neutral” rating on shares of Research In Motion in a research note to investors on Tuesday. Finally, analysts at Raymond James (NYSE: RJF) cut their EPS estimates on shares of Research In Motion in a research note on Tuesday. They now have a “market perform” rating and a $15.00 price target on the stock.
Research In Motion traded down 0.01% on Wednesday, hitting $10.35. 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 $5.335 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 (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.01. The company’s revenue for the quarter was down 24.6% on a year-over-year basis. 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.