UPDATE: Sterne Agee Lowers PT on WMS Industries from $37.50 to $33

Sterne Agee has published a research report on WMS Industries (NYSE: WMS) lowering the price target by $4.50.

In the report, Sterne Agee wrote, "WMS reported FY4Q11 adjusted EPS results of $0.44, $0.08 below consensus. We believe 4Q11 investor expectations were slightly higher, but not by much. FY12 revenue guidance did not significantly change (slight positive relative to expectations), calling for 3% - 5% growth versus its previous 3% - 7%."

Sterne Agee rated WMS Industries a BUY with a price target lowered from $37.50 to $33.00. WMS Industries closed Thursday at $25.28.