ADT Corp (ADT) Shares Jump Slightly on First Quarter Report


ADT Corp (NYSE:ADT) shares are up $0.11 (0.37%) this morning after the company reported first quarter 2016 earnings numbers that beat the Street’s expectations. ADT reported earnings, adjusted for non-recurring costs and restructuring costs of $0.49 per share, beating analysts’ expectations of just $0.46 per share. While this would seem like great news for ther company, they also fell short of analysts’ expectations in other areas.

ADT Corp (NYSE:ADT)’s home and business security company reported just $900 million in revenue for the quarter, less than the $906.2 million that analysts had been expecting. It seems as though investors are unsure of whether to be bullish or bearish of these numbers this morning, as the stock is trading up just slightly.

The stock closed at $29.57 during the last trading session. It is down 12.95% since June 26, 2015 and is downtrending. It has underperformed the S&P500 by 5.24%.

From a total of 2 analysts covering ADT Corporation (NYSE:ADT) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $46 while the lowest target price is $30. The mean of all analyst targets is $37 which is 25.13% above today’s ($29.57) stock price. ADT Corporation was the topic of 6 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Credit Suisse initiated shares on September 23 with a “Outperform” rating.

The institutional sentiment decreased to 0.82 in Q2 2015. It’s down 0.13, from 0.95 in 2015Q2. The ratio fall, as 62 funds sold all their ADT Corp shares they owned while 160 reduced their positions. 36 funds bought stakes while 147 increased their total positions. Institutions now own 187.14 million shares which is 7.51% less than the previous share count of 202.33 million in 2015Q2.

12Th Street Asset Management Company Llc holds 7.76% of its total portfolio in ADT Corp, equating to 707,727 shares. Alethea Capital Management Llc owns 80,198 shares representing 3.64% of their total US portfolio. Moreover, Southernsun Asset Management Llc has 3.58% of their total portfolio invested in the company, equating to 5.42 million shares. The New York-based Clovis Capital Management Lp has a total of 2.84% of their portfolio invested in the stock. Reinhart Partners Inc., a Wisconsin-based fund reported 903,657 shares owned.

The ADT Corporation is a provider of monitored security, interactive home and business automation and related monitoring services in the United States and Canada. The company has a market cap of $4.88 billion. The Company’s services and products include home and business solutions and home health services. It has 17.17 P/E ratio. The Company’s brands include ADT and ADT Pulse.