NII Holdings Receives “Sell” Rating from Citigroup Inc. (NIHD)
NII Holdings (NASDAQ:NIHD)‘s stock had its “sell” rating reiterated by equities researchers at Citigroup Inc. in a research report issued on Tuesday, AmericanBankingNews.com reports. They currently have a $0.70 target price on the stock. Citigroup Inc.’s price target indicates a potential downside of 22.45% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Barclays cut their price target on shares of NII Holdings from $2.50 to $0.50 in a research note on Friday, April 11th. They now have an “underweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of NII Holdings in a research note on Friday, April 4th. They now have a $1.25 price target on the stock. Finally, analysts at Wells Fargo & Co. downgraded shares of NII Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 20th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. NII Holdings presently has an average rating of “Hold” and an average target price of $2.22.
NII Holdings (NASDAQ:NIHD) traded down 1.05% during mid-day trading on Tuesday, hitting $0.8931. The stock had a trading volume of 856,428 shares. NII Holdings has a 52 week low of $0.83 and a 52 week high of $9.34. The stock has a 50-day moving average of $1.08 and a 200-day moving average of $2.51. The company’s market cap is $153.7 million. NII Holdings also was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 41,184,914 shares, a growth of 5.7% from the March 31st total of 38,968,912 shares. Currently, 24.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,753,316 shares, the short-interest ratio is presently 15.0 days.
NII Holdings (NASDAQ:NIHD) last issued its quarterly earnings data on Friday, February 28th. The company reported ($4.33) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.59) by $2.74. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted ($3.45) earnings per share. The company’s quarterly revenue was down 21.8% on a year-over-year basis. On average, analysts predict that NII Holdings will post $-7.45 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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