Molex Stock Rating Lowered by William Blair (MOLX)
Molex (NASDAQ:MOLX) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
The analysts wrote, “We are downgrading Molex shares to Market Perform from Outperform. On Monday, September 9, before the markets opened, Molex announced that it has agreed to be acquired by Koch Industries, a Wichita-based private company that has spent $50 billion in acquisitions and other capital expenditures over the last 10 years. The deal values Molex’s enterprise at 1.9 and 1.7 times our calendar 2013 and 2014 sales estimates, respectively. At $38.50 per share, the deal values Molex equity at roughly $7.2 billion, a premium of 31% and 56% relative to Friday’s closing prices for common and Class A shares, respectively. Molex’s board of directors has approved the deal, including certain Krehbiel family members and executive officers, which account for 32% of common stock and 94% of Class B shares. The deal is expected to close near the end of the year.”
Molex (NASDAQ:MOLX) traded down 0.05% during mid-day trading on Monday, hitting $38.61. 644,731 shares of the company’s stock traded hands. Molex has a 52 week low of $24.99 and a 52 week high of $38.74. The stock’s 50-day moving average is $30.2 and its 200-day moving average is $29.23. The company has a market cap of $6.879 billion and a P/E ratio of 28.40.
Molex (NASDAQ:MOLX) last released its earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.35 by $0.02. The company had revenue of $182.90 million for the quarter, compared to the consensus estimate of $888.02 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Molex will post $1.59 EPS for the current fiscal year.
MOLX has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Molex (NASDAQ:MOLX) from $28.55 to $29.00 in a research note to investors on Thursday, August 8th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Molex (NASDAQ:MOLX) in a research note to investors on Thursday, August 8th. They now have a $31.00 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of Molex (NASDAQ:MOLX) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 7th. They now have a $32.00 price target on the stock, down previously from $34.00.
One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.94.
Molex Incorporated is a manufacturer of electronic connectors. The Company manufactures and sells electronic components.
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