Motorola Solutions (MSI) Stock Falls Despite Earnings Beat
NEW YORK (TheStreet) -- Shares of Motorola Solutions (MSI) - Get Report are down by 6.41% to $66.79 in mid-morning trading on Wednesday, following the release of the company's third quarter earnings results.
The radio systems and walkie-talkie manufacturer reported net income of $126 million, or 82 cents per share on revenue that fell slightly year over year to $1.42 billion.
Analysts on average were expecting the company to report earnings of 73 cents per share on revenue of $1.41 billion.
Additionally, the company also provided current quarter earnings guidance between $1.45 and $1.50 per share, a 6% to 8% decline from the year ago period.
Separately, TheStreet Ratings team rates MOTOROLA SOLUTIONS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate MOTOROLA SOLUTIONS INC (MSI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
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