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Sprint Corp. (NYSE:S) was downgraded by equities researchers at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.

The analysts wrote, “We are downgrading shares of Sprint to Neutral as the stock has climbed over 8% above our $7.75 TP. Given the limited float and high short interest, we would caution against shorting the shares, but believe long-term holders should take some money off the table at current levels”

Shares of Sprint Corp. (NYSE:S) traded down 2.26% during mid-day trading on Monday, hitting $8.20. 16,166,045 shares of the company’s stock traded hands. Sprint Corp. has a 52-week low of $5.61 and a 52-week high of $8.75. The stock has a 50-day moving average of $7.00 and a 200-day moving average of $6.65. The company’s market cap is $32.244 billion.

Sprint Corp. (NYSE:S) last announced its earnings results on Wednesday, October 30th. The company reported $0.00 earnings per share for the quarter. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.69 billion. On average, analysts predict that Sprint Corp. will post $-0.97 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on S. Analysts at Pacific Crest downgraded shares of Sprint Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday, November 25th. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Sprint Corp. in a research note to investors on Wednesday, November 20th. They now have a $7.49 price target on the stock, up previously from $5.50. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sprint Corp. in a research note to investors on Friday, November 15th. They now have a $7.50 price target on the stock. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.28.

Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.

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