Jefferies Cuts Numbers on Sprint (S) After Q1, Keeps Lowest Rating
Tweet
Share
E-mailGet Alerts S Hot Sheet
Price: $18.91 +1.94%
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tractor Supply Company (TSCO) PT Lowered to $33 at UBS
- Jefferies on Bank of America (BAC): 'Average loans remained solid'
- Companhia Siderúrgica Nacional (CSNA3:BZ) PT Lowered to R$4.30 at Goldman Sachs
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
