NII Holdings Rating Lowered to Underweight at Morgan Stanley (NIHD)
NII Holdings (NASDAQ:NIHD) was downgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Thursday, Analyst Ratings Network.com reports. They currently have a $4.00 target price on the stock. Morgan Stanley’s target price points to a potential downside of 33.99% from the company’s current price.
The analysts wrote, “NIHD faces significant operating challenges and a growing debt burden. Liquidity looks adequate, but rising debt is crowding out equity value. We downgrade to Underweight from Equal-weight and set a price target of $4.0, down from our prior fair value estimate of $5.”
A number of other firms have also recently commented on NIHD. Analysts at Citigroup Inc. initiated coverage on shares of NII Holdings in a research note to investors on Wednesday, August 7th. They set a “sell” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of NII Holdings in a research note to investors on Wednesday, June 26th. They now have a $6.25 price target on the stock.
Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.54.
Shares of NII Holdings (NASDAQ:NIHD) traded down 0.83% on Thursday, hitting $6.01. The stock had a trading volume of 1,777,828 shares. NII Holdings has a 52 week low of $4.11 and a 52 week high of $9.82. The stock has a 50-day moving average of $6.96 and a 200-day moving average of $6.87. The company’s market cap is $1.036 billion.
NII Holdings (NASDAQ:NIHD) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by $1.27. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted ($0.60) earnings per share. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, analysts predict that NII Holdings will post $-4.62 earnings per share for the current fiscal year.
NII Holdings, Inc (NASDAQ:NIHD) is a holding company for the operations of Nextel Communications, Inc in selected International markets.
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