Research in Motion (RIMM) received a “neutral” reiteration today from securities research analysts at investment firm UBS. While UBS analysts maintain a the neutral rating on RIMM, UBS’s price target for the stock slipped by a quarter from $60 to $45. UBS analysts noted that they aren’t particularly enthusiastic about Research in Motion’s senior management hierarchy where several Co-Chairmen are also Co-CEO’s. Alarm was also raised concerning Research’s product launch timeliness, product updates, and an enterprise base being encroached upon by Android & iOS.
Research in Motion is slated to release their next earnings report on June 16th, 2011 and is estimated to post EPS of $1.32 per current consensus. Their last earnings report was released on March 24th, 2011 and announced EPS of $1.78 dollars with revenue totaling $5.556 billion which was up 36.2 % year to year. RIMM is currently trading well bellow its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Research in Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. The company has market capitalization of $19,638,000,000 and 519,273,000 shares outstanding. RIMM has a 52-week high of $70.54 with the low being $38.53 dollars.
