Alcatel Lucent SA Receives “Neutral” Rating from Zacks (ALU)
Alcatel Lucent SA (NYSE:ALU)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Friday. They currently have a $4.25 price target on the stock. Zacks‘s target price would suggest a potential upside of 6.78% from the stock’s previous close.
Zacks’ analyst wrote, “Alcatel-Lucent is a leading networking and communications technology company. We are maintaining our Neutral recommendation with a $4.25 target price. Recently, the company received a number of new contracts driven by growth in IP and LTE technology. In addition, the company’s Shift Plan is on target and achieving the desired results. The company is focused on divesting its non-performing assets. However, that entails additional risks for the company. Furthermore, cash remains a challenge and the highly competitive nature of the telecom industry concerns us. While the worst seems to be over for Alcatel, it still needs to revive and generate double-digit revenue growth and strong cash flow. This looks achievable with a strong pipeline of new products, strategic deals and a shift toward IP routing and cloud. “
A number of other analysts have also recently weighed in on ALU. Analysts at Credit Suisse downgraded shares of Alcatel Lucent SA to a “neutral” rating in a research note on Monday, May 12th. Separately, analysts at BMO Capital Markets cut their price target on shares of Alcatel Lucent SA from $5.50 to $5.00 in a research note on Monday, May 12th. They now have an “outperform” rating on the stock. Finally, analysts at MKM Partners cut their price target on shares of Alcatel Lucent SA from $4.75 to $4.50 in a research note on Friday, May 9th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.
Alcatel Lucent SA (NYSE:ALU) traded down 0.50% during mid-day trading on Friday, hitting $3.96. The stock had a trading volume of 7,371,183 shares. Alcatel Lucent SA has a 1-year low of $1.67 and a 1-year high of $4.68. The stock has a 50-day moving average of $3.92 and a 200-day moving average of $4.1. The company’s market cap is $10.945 billion.
Alcatel Lucent SA (NYSE:ALU) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $2.96 billion for the quarter. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts expect that Alcatel Lucent SA will post $0.06 EPS for the current fiscal year.
Alcatel Lucent SA is a France based company that proposes solutions used by service providers, businesses, and governments worldwide to offer voice, data, and video services to their own customers.
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