sprint store locations Corp. (NYSE:S)'s stock had its "underperform" rating reaffirmed by investment analysts at Credit Suisse in a note issued to investors on Thursday, American Banking & Market News reports. They currently have a $5.50 price objective on the stock. Credit Suisse's price objective would indicate 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."
Sprint Corp. ( NYSE:S) opened at 9.08 on Thursday. 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 $9.09 and a 200-day moving average of $7.24. The company's market cap is $35.704 billion.
Sprint Corp. (NYSE:S) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.00 earnings per share 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.
S has been the subject of a number of other recent research reports. 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 analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Sprint Corp. has a consensus rating of "Hold" and an average target price of $7.49.
Sprint Nextel Corporation ( NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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