Sprint Corp. Given “Underperform” Rating at Credit Suisse (S)
Sprint Corp. (NYSE:S)‘s stock had its “underperform” rating restated by Credit Suisse in a research note issued on Thursday, Analyst Ratings Network.com reports. They currently have a $5.50 target price on the stock. Credit Suisse’s target price suggests a potential downside of 40.02% from the stock’s previous close.
The analysts wrote, “Our general impression was that Sprint store traffic was relatively weak during the 4Q13,” the report noted. “Taking this into consideration with T-Mobile’s strength, including comments that porting with Sprint was greater than 2 to 1, we also raised our postpaid churn estimate 10 bps to 2.1% compared to 1.99% in 3Q13 and 2.18% in 4Q12.”
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank downgraded shares of Sprint Corp. from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 9th. They now have a $9.25 price target on the stock, up previously from $8.50. Separately, analysts at S&P Equity Research downgraded shares of Sprint Corp. from a “hold” rating to a “sell” rating in a research note to investors on Friday, January 3rd. Finally, analysts at Stifel Nicolaus downgraded shares of Sprint Corp. from a “hold” rating to a “sell” rating in a research note to investors on Friday, January 3rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $7.49.
Shares of Sprint Corp. (NYSE:S) opened at 9.17 on Thursday. Sprint Corp. has a 52-week low of $5.61 and a 52-week high of $11.47. The stock’s 50-day moving average is $9.09 and its 200-day moving average is $7.24. The company’s market cap is $36.058 billion.
Sprint Corp. (NYSE:S) last posted its quarterly 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. On average, analysts predict that Sprint Corp. will post $-0.95 earnings per share 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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