Carnegie believes that analysts ‘ snittförväntningar for the Fingerprint Cards is still too high and fear that the company will come up with further disappointments in the future.
It writes to Carnegie in an analysis before the Fingerprint Card report for the second quarter, where the recommendation is sell and riktkursen sek 22 is repeated.
Carnegie consider it likely that the weak demand on the fingeravtryckssensorer persist in the second quarter and that it can have a greater impact than what the consensus seems to be reckoned with.
”We also believe that consensus is too optimistic about the recovery in the second half of 2017, and we continue to see evidence that the FPC is losing market share,” writes Carnegie.
Carnegie believes that Fingerprint Cards ‘ share of the market, excluding Apple and Samsung amounted to 35 per cent in 2017.
”We need to see a stabilization in market share and the asp (average per sensor) together with a significant commercialization in new verticals,” writes Carnegie.
For the second quarter expect Carnegie to Fingerprint Cards, and operating income amounted to 123 million and for the full year 2017 track the investment bank an operating profit of 963 million.
According to SME Direkt estimates is the consensus for the second quarter on an operating profit of sek 222 million and for the full year 2017 is snittförväntningarna on an ebit-result of 1.338 million.
At 10.55, the time had Fingerprint Cards has declined by 1.3 per cent to 35:45 kronor on the stockholm stock exchange.
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