Investors reacted negatively to the services stocks on Monday. Major movement were observed in Sears Holdings Corporation (NASDAQ:SHLD) and RRS at Global Communications Network Ltd (NASDAQ:RRST) on percentage gainers side while hhgregg, Inc (NYSE:HGG) was prominent stock on the decliner side.
Verizon Communications Inc (NYSE:VZ) on Monday shown a downgrade from buy to neutral at UBS AG (USA) (NYSE:UBS) on lower profit forecasts for the company.
Analysts reported that they have price target of $44 per share at Verizon, low from $48 per share. UBS also shattered its Q4 profit forecasts for Verizon to 46 cents per share from 51 cents per share on lower than estimated wire line and wireless profitability.
Verizon Communications Inc.’s YTD performance was recorded as -0.42% while its market capitalization was $121.55 billion. The company has P/B ratio of 3.23 while P/E ratio was booked as 39.80. Institutional ownership owns 55.28% shares of the company while beta factor, which is used to measure riskiness of the security, was 0.47. Net profit margin of the company was 10.74% while its gross profit margin was 60.35%.
UBS analysts also shatter its rating on Sprint Nextel Corporation (NYSE:S) from buy to neutral and kept their price target at $6 per share.
Sprint Nextel Corporation has market capitalization of $17.10 billion. Its current ratio was 1.46 while its shares were looking forward SMA50 with 0.62. The company offered earnings per share of -1.44 while its 3.00 billion shares were outstanding. YTD performance of the stock was 0.35%.
Clearwire Corporation (NASDAQ:CLWR) has the market capitalization of $4.66 billion. The company’s EPS was -1.56 while its 1.46 billion shares were outstanding. Its institutional ownership was 63.37%. Shares of the company were moving ahead of SMA50 with 24.97% while its YTD performance was 10.03%.
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