Jefferies Cuts Numbers on Sprint (S) After Q1, Keeps Lowest Rating
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Price: $7.33 +0.27%
Rating Summary:
10 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade S Now!
Jefferies cut estimates and its price target on Sprint (NYSE: S) while keeping their Underperform rating.
The price target goes from $2.50 to $2.00. Q2 EPS goes down rom ($0.38) to ($0.54), FY12 goes down from ($1.53) to ($1.69) and FY13 goes up from ($1.42) to ($0.99).
The firm comments, "Sprint reported 1Q ARPU, Revenues, and OIDBA higher than our/Street ests, while sub growth was lower. Although mgt tightened 2012 OIBDA guidance to the higher end of the $3.7-$3.9B range, the uncertainty, in our view, arises from Network Vision expenses and iPhone subsidies. We continue to believe the multi-year network transition is a challenging task compounded by onerous financial commitments and high leverage."
For an analyst ratings summary and ratings history on Sprint click here. For more ratings news on Sprint click here.
Shares of Sprint closed at $2.37 yesterday, with a 52 week range of $2.10-$6.45.
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The price target goes from $2.50 to $2.00. Q2 EPS goes down rom ($0.38) to ($0.54), FY12 goes down from ($1.53) to ($1.69) and FY13 goes up from ($1.42) to ($0.99).
The firm comments, "Sprint reported 1Q ARPU, Revenues, and OIDBA higher than our/Street ests, while sub growth was lower. Although mgt tightened 2012 OIBDA guidance to the higher end of the $3.7-$3.9B range, the uncertainty, in our view, arises from Network Vision expenses and iPhone subsidies. We continue to believe the multi-year network transition is a challenging task compounded by onerous financial commitments and high leverage."
For an analyst ratings summary and ratings history on Sprint click here. For more ratings news on Sprint click here.
Shares of Sprint closed at $2.37 yesterday, with a 52 week range of $2.10-$6.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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