Motorola Solutions Stock Rating Lowered by Zacks (MSI)

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Motorola Solutions (NYSE:MSI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday. They currently have a $60.00 price target on the stock. Zacks‘s price objective suggests a potential downside of 9.95% from the company’s current price.

Zacks’ analyst wrote, “Motorola Solutions posted somber first-quarter 2014 financial results with both the top and the bottom line missing the Zacks Consensus Estimate. Lower contract wins and sluggish economic trends have forced the company to slash its outlook and divest its Enterprise Business segment. Moreover, phasing out of the iDEN network will act as a headwind for the company going ahead. In our view, Motorola Solutions is currently trading at the high end of the 52-week price range. We do not find any immediate growth catalyst for the company. We thus, downgrade our long-term recommendation on Motorola Solutions from Neutral to Underperform.”

Shares of Motorola Solutions (NYSE:MSI) opened at 66.63 on Wednesday. Motorola Solutions has a 52-week low of $53.62 and a 52-week high of $68.33. The stock’s 50-day moving average is $64.97 and its 200-day moving average is $65.2. The company has a market cap of $16.938 billion and a P/E ratio of 17.07.

Motorola Solutions (NYSE:MSI) last announced its earnings results on Thursday, May 1st. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $0.66 earnings per share. Motorola Solutions’s revenue was down 8.7% compared to the same quarter last year. On average, analysts predict that Motorola Solutions will post $3.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, June 11th.

Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners cut their price target on shares of Motorola Solutions from $67.00 to $66.00 in a research note on Friday, May 2nd. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Motorola Solutions in a research note on Friday, May 2nd. They now have a $64.00 price target on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Motorola Solutions from $63.00 to $61.00 in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Motorola Solutions currently has a consensus rating of “Hold” and an average price target of $64.27.

Motorola Solutions, Inc (NYSE:MSI) provides communication infrastructure, devices, software and services.

To view Zacks’ full report, visit Zacks’ official website.

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