Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

JP Morgan Cuts Symbol Technologies Estimates

JP Morgan cuts bar-code scanners maker Symbol Technologies (SBL) estimates.

Analyst Paul Coster says there are inconsistencies. June sales improved after weak April through May, yet the company cut its second half outlook. Sales coverage must increase, yet weak demand caused a second-quarter shortfall. Cost of goods sold will fall, yet there's no impact on "selling, making, and services".

He cuts his 43 cents 2005 earnings per share estimate to 30 cents and 69 cents 2006 earnings per share to 51 cents.

Though hesitant, Coster keeps an overweight rating because the stock trades at 20.5 times new its 2006 estimate, near the low-end of its two-year range of 20 times to 36 times over the next 12 months earnings per share. In addition, he thinks the restructure program should yield 2006 earnings per share growth of over 70%.

blog comments powered by Disqus