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Motorola Solutions, Inc. (MSI), headquartered in Chicago, operates in the communication equipment industry, specializing in public safety and enterprise security solutions. Valued at a market cap of $77.9 billion, Motorola operates through Products and Systems Integration, and Software and Services segments. It is expected to announce its Q3 earnings on Thursday, Nov. 7.
Ahead of the events, analysts expect Motorola Solutions to report a profit of $3.09 per share, up 4% from $2.97 per share reported in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS projections over the past four quarters. Its EPS for the last reported quarter came in at $2.96, exceeding the consensus estimates by 7.3%.
Looking ahead to fiscal 2024, analysts expect MSI to report an EPS of $12.22, up 11.2% from $10.99 in fiscal 2023.
MSI stock is up 48.6% on a YTD basis, outperforming the S&P 500 Index’s ($SPX) 21.8% gains and the Technology Select Sector SPDR Fund’s (XLK) 19% returns over the same time frame.
MSI stock rose 2.9% following the release of its Q2 earnings report on Aug. 1. The company exceeded Wall Street’s expectations and projected full-year earnings in the range of $13.22 to $13.30 per share.
Motorola Solutions stock has a consensus “Strong Buy” rating overall. Out of the 12 analysts covering the stock, eight recommend a “Strong Buy,” one advises a “Moderate Buy,” and the remaining three analysts suggest a “Hold” rating.
Although MSI stock currently trades above its mean target price of $450.78, the Street-high target of $510 suggests a potential upside of 9.6% from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
