RIMM Earnings Stock Halted News Pending

Date: 6/16/2011

RIMM Earnings Stock Halted News Pending. Research in Motion is due to report earnings after the bell. The best thing we can say is that the bar is low.Analysts expect it to earn $1.32 per share (non-GAAP) on sales of $5.14 billion.

MarketWatch reports:
Net income is forecast to fall 9% from the comparable period last year to about $769 million, according to Thomson Reuters.RIM earned $1.38 per share on revenue of $4.24 billion in the same period last year.Analysts expect smartphone shipments of about 13.3 million units for the May quarter, with about 436,000 units of the company's newly launched Playbook tablet. The company itself said smartphone shipments were expected to come in at the lower end of the 13.5 million-to-14.4 million range it had previously given.

Besides the full-year earnings forecast, investors are concerned about risk to the company's results for the August quarter.Analysts have been climbing all over themselves to downgrade the stock, which has tumbled 50% from its high in mid-February.Just 25% of the 51 analysts covering it have "buy" ratings on the company, compared with 51% on "hold" and 24% with a "sell" rating.

The average price target among Wall Street analysts is $52.68. The stock closed just above $35 today.Here's how to read FactSet's chart: The dotted line is the average price target, the blue line is the real price. The bars are broken into green for buy ratings, yellow for holds, and that microscopic red wafer is the sells, all two of them.

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