Sprint Corp. Rating Lowered to Market Perform at Cowen and Company (S)
Sprint Corp. (NYSE:S) was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $8.25 price objective on the stock, up from their previous price objective of $7.50. Cowen and Company’s price target indicates a potential downside of 23.26% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Sprint Corp. (NYSE:S) traded down 3.63% during mid-day trading on Thursday, hitting $10.36. The stock had a trading volume of 8,763,326 shares. Sprint Corp. has a 1-year low of $5.61 and a 1-year high of $11.47. The stock has a 50-day moving average of $8.43 and a 200-day moving average of $7.05. The company’s market cap is $40.737 billion.
Sprint Corp. (NYSE:S) last released its earnings data on Wednesday, October 30th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.69 billion. Analysts expect that Sprint Corp. will post $-0.95 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on S. Analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Sprint Corp. in a research note to investors on Thursday, December 26th. Separately, analysts at Jefferies Group initiated coverage on shares of Sprint Corp. in a research note to investors on Thursday, December 19th. They set an “underperform” rating and a $7.00 price target on the stock. Finally, analysts at Nomura upgraded shares of Sprint Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, December 5th. They now have a $10.50 price target on the stock, up previously from $6.00. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sprint Corp. has an average rating of “Hold” and an average price target of $7.53.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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