REFILE-BUZZ-Sierra Wireless Inc: Q4 adj profit forecast tops estimates

Thu Nov 6, 2014 11:36am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Corrects ticker symbol in first bullet to SWIR.O from SWIR.N)

** Canadian company's U.S. listed shares up more than 24 pct at a nearly 10-year high, making it the second biggest gainer on NYSE

** Company's Toronto-listed stock up 24 pct at C$37.64

** At least six brokerages raised their price targets on the stock by as much as $12 to as much as $36, after the company forecast an upbeat Q4 adjusted profit and revenue outlook

** Sierra said it expects a Q4 adjusted profit of 25-28 cents per share, higher than analysts' average estimate of 18 cents, according to Thomson Reuters I/B/E/S

** It also forecast Q4 revenue of $145 million-$148 million, higher than analysts' average estimate of $142.8 million

** Company, which makes wireless communication equipment, reported a doubling in Q3 earnings from continuing operations

** Stock has median price target of $28