Research In Motion (RIMM) Target Cut at RBC Capital Markets

Research In Motion (RIMM) received a “sector perform” reiteration today from securities research analysts at investment firm RBC Capital Markets.  RBC, however, cut their performance outlook for Research In Motion by adjusting their price target from $55 to $45 dollars.  RBC noted that they expect $5.1 billion in revenue for Q1, 21% year to year, negative 7 % quarter to quarter and $1.30 EPS.  RBC anticipates Q2 guidance below street level at $5.2 to $5.4 billion in revenue and around $1.35 to $1.41 in EPS.

RIMM is down during trading today after having set a new 52-week low ($36.08) yesterday on Thursday.  The upside is a new low has not been set today, however, volatility of shares are on the downside as shares consolidate within Thursday’s daily range.

Research In Motion is slated to release their next earnings report on June 16th, 2011,  and is estimated to post EPS of $1.32.  Their last earnings report was released on March 24th, 2011, and announced EPS of $1.78 with revenue totaling $5.556 billion which was up 36.2 % year to year.  RIMM is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Research In Motion is a designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market.  The company has market capitalization of $18,984,620,880 and 519,273,000 shares outstanding.  RIMM has a 52-week high of $37.54 with the low being the aforementioned $36.08 dollars.

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