Shares of Motorola Solutions, Inc. (MSI - Free Report) scaled a new 52-week high of $114.46 in yesterday’s trading session, before closing a tad lower at $113.63 for a healthy one-year return of 32.1%.
The communications equipment manufacturer focuses on continued innovation in voice and data solutions spanning 12,500 systems across the world. These systems drive demand for additional device sales, software upgrades, infrastructure refresh and expansion, as well as additional services to maintain, monitor, and manage these complex networks and solutions. The comprehensive suite of services ensures continuity and reduces risks for continued critical communications operations.
The company remains focused on inorganic growth strategy to broaden its product portfolio. During first-quarter 2018, Motorola completed the acquisition of Plant Holdings from Airbus SE to boost its command center software and enterprise portfolio. It also completed the buyout of Canadian firm Avigilon, in an all-cash transaction, to extend its mission-critical communications technologies portfolio.
As the public safety market continues to embrace software offerings to enhance workflows, Motorola is able to sell cloud-first SaaS offerings in addition to on-premise solutions with ancillary implementation and managed services. The company continues to expand its software offerings to provide solutions across the various segments of the public safety workflow.
Motorola is poised to gain from robust organic growth, disciplined capital deployment and a favorable global macroeconomic environment. With solid quarterly results and continued strength in order trajectory, management has raised the earlier guidance for 2018. Full-year adjusted earnings are currently anticipated to lie within the $6.70-$6.85 per share range, up from $6.50-$6.65 expected earlier on revenue growth of 14%, higher than the prior expectations of 10-11%.
With continued growth impetus and favorable growth dynamics, the Zacks Rank #2 (Buy) stock has the potential for further price appreciation and looks poised to touch new highs.
Other Stocks to Consider
Other stocks in the industry worth considering include Comtech Telecommunications Corp. (CMTL - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Ubiquiti Networks, Inc. (UBNT - Free Report) , carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech Telecommunications has a long-term earnings growth expectation of 5%. It surpassed estimates in each of the trailing four quarters with an average positive earnings surprise of 123.7%.
Ubiquiti Networks has a long-term earnings growth expectation of 18.6%. It topped estimates thrice in the trailing four quarters with an average positive earnings surprise of 8.9%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>