Koninklijke Philips Electronics (PHG) Posts Quarterly Earnings, Misses Estimates By $0.02 EPS
Koninklijke Philips Electronics (NYSE:PHG) posted its quarterly earnings results on Monday. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.02, Analyst Ratings Network.com reports. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis.
Shares of Koninklijke Philips Electronics (NYSE:PHG) opened at 33.55 on Monday. Koninklijke Philips Electronics has a one year low of $24.55 and a one year high of $33.76. The stock’s 50-day moving average is $32.64 and its 200-day moving average is $30.23. The company has a market cap of $30.660 billion and a P/E ratio of 56.67.
A number of research firms have recently commented on PHG. Analysts at Goldman Sachs Group Inc. upgraded shares of Koninklijke Philips Electronics from a “neutral” rating to a “buy” rating in a research note to investors on Friday, October 11th. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Koninklijke Philips Electronics in a research note to investors on Friday, October 4th. They now have a $33.00 price target on the stock. Finally, analysts at Citigroup Inc. upgraded shares of Koninklijke Philips Electronics from a “sell” rating to a “buy” rating in a research note to investors on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.00.
Koninklijke Philips Electronics N.V. (NYSE:PHG) is the parent company of the Philips Group (Philips).
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