Telecom & Wireless
Earnings Preview: Sprint Nextel Corp. (S)
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If there is one ugly telecom company in the major telecom stocks, it is Sprint Nextel Corp. (NYSE: S). The company reports earnings tomorrow morning. The estimates from First Call are $0.18 EPS on $9.92 billion in revenues. Next quarter estimates are $0.15 EPS on $9.71 billion in revenues. Estimates for fiscal 2008 are $0.60 EPS on $38.84 billion in revenues.
If you can find anyone who is in love with this one his name is probably Dr. Pangloss. This recently wrote-down essentially all of its entire purchase price of Nextel. Sprint was also listed as one of our companies that we have said could actually disappear by year-end.
Analysts have an average price target north of $14.00, more than 50% higher than the closing price of $8.95 on Wednesday. Sprint Nextel’s 52-week trading range is $8.07 to $23.42.
Jon C. Ogg
February 27, 2008
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