Argus Lowers MetroPCS to Hold (PCS)

By admin | 6 years ago

MetroPCS (NYSE: PCS) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a report issued on Friday.

MetroPCS traded up 3.78% on Friday, hitting $7.275. MetroPCS has a 52-week low of $6.79 and a 52-week high of $18.79. The company has a market cap of $2.642 billion and a price-to-earnings ratio of 9.63.

The company last announced its quarterly results on Thursday, April 26th. It reported $0.06 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.18 EPS by $0.12. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that MetroPCS will post $0.20 EPS next quarter.

PCS has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. (NYSE: WFC) downgraded shares of MetroPCS from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. Separately, analysts at Deutsche Bank (NYSE: DB) downgraded shares of MetroPCS from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $9.00 price target on the stock, down previously from $13.00. Finally, analysts at Canaccord Genuity downgraded shares of MetroPCS from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $9.00 price target on the stock, down previously from $16.00.

MetroPCS Communications, Inc. (MetroPCS Communications) is a facilities-based wireless broadband mobile communications provider in the United States, including the Atlanta, Boston, Dallas/Fort Worth, Detroit, Las Vegas, Los Angeles, Miami, New York, Orlando/Jacksonville, Philadelphia, Sacramento, San Francisco, and Tampa/Sarasota metropolitan areas.

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