Sprint Given “Underperform” Rating at Credit Suisse (S)
Sprint (NYSE:S)‘s stock had its “underperform” rating restated by analysts at Credit Suisse in a research report issued to clients and investors on Tuesday. They currently have a $6.00 price objective on the stock. Credit Suisse’s target price would indicate a potential upside of 6.76% from the stock’s previous close.
A number of other firms have also recently commented on S. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sprint in a research note on Monday, August 4th. They now have a $9.00 price target on the stock, down previously from $9.50. Separately, analysts at Macquarie upgraded shares of Sprint from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 10th. Finally, analysts at Sanford C. Bernstein initiated coverage on shares of Sprint in a research note on Thursday, May 22nd. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.88.
Shares of Sprint (NYSE:S) opened at 5.62 on Tuesday. Sprint has a one year low of $5.53 and a one year high of $11.47. The stock has a 50-day moving average of $7.4 and a 200-day moving average of $8.37. The company’s market cap is $22.174 billion.
Sprint (NYSE:S) last announced its earnings results on Wednesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Sprint will post $-0.14 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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