Sprint Corp. Downgraded to “Neutral” at Macquarie (S)
Sprint Corp. (NYSE:S) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $8.25 target price on the stock, up from their previous target price of $7.50. Macquarie’s price target would indicate a potential downside of 23.26% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company downgraded shares of Sprint Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Sprint Corp. in a research note to investors on Thursday, December 26th. Finally, 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. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $7.49.
Sprint Corp. (NYSE:S) opened at 10.75 on Thursday. Sprint Corp. has a 1-year low of $5.61 and a 1-year high of $11.47. The stock’s 50-day moving average is $8.43 and its 200-day moving average is $7.05. The company’s market cap is $42.271 billion.
Sprint Corp. (NYSE:S) last announced its earnings results 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.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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