MetroPCS Rating Lowered to Market Perform at Wells Fargo & Co. (PCS)

By admin | 6 years ago

MetroPCS (NYSE: PCS) was downgraded by equities research analysts at Wells Fargo & Co. (NYSE: WFC) from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday.

A number of other firms have also recently commented on PCS. 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. Separately, 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. Finally, analysts at Raymond James (NYSE: RJF) downgraded shares of MetroPCS from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday.

MetroPCS traded up 2.85% on Friday, hitting $7.21. MetroPCS has a 1-year low of $6.79 and a 1-year high of $18.79. The company has a market cap of $2.619 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.

MetroPCS Communications, Inc. (MetroPCS Communications) is a wireless telecommunications provider in the United States measured by the number of subscribers served.

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