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Alcatel Lucent SA (NYSE:ALU) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday. They currently have a $3.00 price objective on the stock. Zacks‘s price target would indicate a potential downside of 10.18% from the company’s current price.

Zacks’ analyst wrote, “Alcatel-Lucent is a leading networking and communications technology company. We are downgrading our recommendation on Alcatel-Lucent to Underperform from Neutral with a target price of $3.00. Alcatel-Lucent reported soft second-quarter results owing to weakness in the global market conditions, especially in North America. The ongoing restructuring activities are also affecting its bottom line at present. Moreover, the highly competitive nature of the telecom industry and the changing regulations and standards also remain matters of concern. However, the company has been benefiting from growth in IP and LTE technology, and its financial position is also improving owing to the effectiveness of the Shift Plan.”

Alcatel Lucent SA (NYSE:ALU) traded up 0.60% during mid-day trading on Wednesday, hitting $3.36. The stock had a trading volume of 2,283,263 shares. Alcatel Lucent SA has a one year low of $2.53 and a one year high of $4.68. The stock has a 50-day moving average of $3.46 and a 200-day moving average of $3.81. The company’s market cap is $9.294 billion.

Alcatel Lucent SA (NYSE:ALU) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.09. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted ($0.38) earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts expect that Alcatel Lucent SA will post $-0.04 EPS for the current fiscal year.

ALU has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of Alcatel Lucent SA from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 4th. They now have a $3.40 price target on the stock, down previously from $3.80. Separately, analysts at MKM Partners cut their price target on shares of Alcatel Lucent SA from $4.50 to $4.00 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Alcatel Lucent SA from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.27.

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.

To view Zacks’ full report, visit Zacks’ official website.

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