Dallas, Texas 08/06/2013 (Financialstrend) – The forecasters of the equities research at Macquarie have decreased their price objective over the scrip of Sprint Nextel Corp (NYSE: S). Price objective over the scrip has been decreased to about $ 6.30 from the price of $ 6.50 as per the message that was forwarded to the shareholders. At present, Macquarie is holding the ‘neutral’ ranking over the scrip of Sprint Nextel Corp. These target points of Macquarie is pointing out a potential decrease of 1.25% as compared with the scrip’s previous closing price. Also, it is noted that the company has faced a higher net loss of around $ 1.6 billion in comparison with the net loss of only $ 1.4 billion during the last year.
After the application of adjustments put in for the unexpected charges that were associated with the shutdown of the Nextel network, the losses faced by Sprint Nextel Corp was remaining at 31 cents for each share. The revenue generated by the company was seemed to be augmented for some extent to about $ 8.88 billion during this year in contrast with the value of around $ 8.84 billion during the second quarter of the last year. For the current period which is put under the review, it is expected that the company will be registering losses between the values of 30 cents and 33 cents as said by the market experts. This loss would be reported over the income of around $ 8.69 billion.
Before making some sort of recovery, the scrip of Sprint Nextel has decreased by about 3% during the pre-market trading. It has been reported by Sprint Nextel Corp that the income generated by Sprint stage wireless service has been increased by about 8% thereby hitting a new record of $ 7.2 billion. The operating losses posed by the company remained as $ 875 million out of which wear and tear comprised to about $ 430 million while the accusations comprised about $ 623 million that owed to the closure of the Nextel group.