Brean Capital Downgrades Xyratex to Hold (XRTX)
Xyratex (NASDAQ:XRTX) was downgraded by Brean Capital from a “buy” rating to a “hold” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Xyratex (NASDAQ:XRTX) last announced its earnings results on Monday, January 13th. The company reported ($0.03) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.12 by $0.15. The company had revenue of $185.30 million for the quarter, compared to the consensus estimate of $208.73 million. During the same quarter last year, the company posted ($0.24) earnings per share. Xyratex’s revenue was down 30.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 17th. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, January 31st.
Xyratex Ltd. (NASDAQ:XRTX) is a provider of modular enterprise-class data storage subsystems and storage process technology.
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