Motorola Solutions, Inc. (MSI) Releases Earnings Results, Beats Expectations By $0.07 EPS
Motorola Solutions, Inc. (NYSE:MSI) issued its earnings results on Thursday. The communications equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07, Morningstar.com reports. Motorola Solutions had a negative return on equity of 96.01% and a net margin of 10.38%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Motorola Solutions updated its Q3 guidance to $1.36-1.41 EPS and its FY17 guidance to $5.20-5.30 EPS.
Motorola Solutions (NYSE:MSI) traded down 0.03% on Friday, hitting $90.37. The stock had a trading volume of 2,085,513 shares. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 24.98 and a beta of 0.32. The company’s 50-day moving average price is $88.17 and its 200 day moving average price is $84.24. Motorola Solutions has a one year low of $68.56 and a one year high of $93.75.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.88 annualized dividend and a dividend yield of 2.08%. Motorola Solutions’s dividend payout ratio is currently 49.60%.
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A number of analysts have recently commented on MSI shares. Gabelli upgraded Motorola Solutions from a “hold” rating to a “buy” rating in a research note on Monday, May 8th. Raymond James Financial, Inc. upgraded Motorola Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $62.76 to $95.00 in a research report on Monday, May 22nd. They noted that the move was a valuation call. Citigroup Inc. reiterated a “buy” rating and set a $102.00 price target (up previously from $93.00) on shares of Motorola Solutions in a research report on Friday, May 5th. Cowen and Company lowered their price target on Motorola Solutions from $77.00 to $75.00 and set a “market perform” rating on the stock in a research report on Monday, May 15th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Motorola Solutions in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.46.
Several hedge funds have recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its stake in Motorola Solutions by 200.9% in the second quarter. Federated Investors Inc. PA now owns 369,908 shares of the communications equipment provider’s stock worth $32,086,000 after buying an additional 246,957 shares during the last quarter. Marshall Wace LLP purchased a new stake in Motorola Solutions during the second quarter worth approximately $1,253,000. Legal & General Group Plc increased its stake in Motorola Solutions by 1.3% in the second quarter. Legal & General Group Plc now owns 902,723 shares of the communications equipment provider’s stock worth $78,305,000 after buying an additional 12,022 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in Motorola Solutions during the second quarter worth approximately $2,325,000. Finally, LMR Partners LLP purchased a new stake in Motorola Solutions during the second quarter worth approximately $948,000. Institutional investors and hedge funds own 87.29% of the company’s stock.
Motorola Solutions Company Profile
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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