Sprint to the finish?
On Financial Tides I try find stocks I think are the best to buy now but also report on some of the most popular issues. Sprint Nextel-- S has been on the volume leaders list recently. I'm going to look at Sprint's stats objectively:
1 - Has the stock been hitting new highs recently
2 - What do the technical indicators say
3 - If followed by Wall Street is there trash talking
4 - What is the consensus on other sites.
Sprint offers a comprehensive range of wireless and wireline communications services to consumer, business and government customers. The company is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks offering industry leading mobile data services; instant national and international push-to-talk capabilities; and an award-winning and global Tier 1 Internet backbone.
BarChart reveals that S has had 7 price increases in the last 20 trading sessions and is 3 for 5 most recently. There has been a 48.56% price appreciation in the last 65 days. BarChart has this stock an overall 64% buy with the short term technical indicators giving it an 80% buy.
30 Wall Street brokerage firms follow the stock and although they estimate a 2.3 loss in revenue they feel the EPS will rise by 17.1%. Possible sign of losing market share but improved efficiencies. Of the 30 there are only 3 under perform or sells with 9 buys and 18 holds. The most recent recommendation is a buy from CitiGroup. There seems to be support on Wall Street to hold what you have and maybe even accumulate a little more. No real trash talking.
On Wall Street Survivor the Survivor Sentiment is 5/5, fundamental 4/5 and technical 3/4 - not over whelming but still positive.
Motley Fool CAPS members vote 1404 to 405 that the stock will outperform the market with the All Stars in agreement 307 to 98. The Wall Street columnist Foll follows like the stock 15 to 2.
My take is that if you have the stock there is no reason to sell at this time. Although it won't set the world on fire you might want to accumulate more as a long term investment. Trading around 4 at present short term traders should be out below 3.50 and no one should hold below 3.00.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com
Disclosure: No positions in this stock at the time of publication