Third quarter STMicroelectronics NV (ADR)(NYSE:STM) $0.13 per share net income better than forecast

Profits for STMicroelectronics NV (ADR)(NYSE:STM) September third quarter were above the range expected by Wall Street and were better than the Thomson Reuters I/B/E/S mean estimate. The net income reported by the company of $0.13 per share is an improvement from the same quarter last year when the company lost $0.03. Earnings were projected by financial analysts to range between $0.03 and $0.06 per share and have a forecasted mean of $0.05 per share. The company has twice beaten and twice not matched the Thomson Reuters I/B/E/S expected mean estimate over the past four quarters.RECOMMENDATIONS

• STMicroelectronics NV (ADR)(NYSE:STM) has a consensus recommendation of Hold.
• The recommendations made by twelve analysts evaluating the company include three Buy, seven Hold, one Underperform, and one Sell.
• The average consensus recommendation for the Semiconductor Manufacturing Equipment peer group is a Buy.

FORECAST CHANGES

• Prior to the earnings announcement, the mean estimate was a profit of $0.05 per share
• Three analysts currently provide Thomson Reuters I/B/E/S with estimates.
• The mean EPS estimate has not moved in the last four weeks.
• The high estimate was $0.06 four weeks ago and the low estimate was $0.03.

YEAR OVER YEAR

• Earnings for the peer group are expected to fall over the same quarter last year and have been revised downward over the last four weeks.

STMicroelectronics NV (ADR)(NYSE:STM) is trading up .80% in afternoon trade to $6.41.