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PCS @ $7.08. Q1-12 $0.06 EPS or $21M, "street" avg. est. was $0.17.
Churn was 3.1, lowest in company history. LTE churn was 2%;
+132K subs, to 9.5M subs;
$262 EBITA, -8% yoy, $2.2B cash;
1.5M upgrades in Q1 added to company costs;
2nd half of 2012 LTE smartphones sub $150;
full 3G LTE based stations by Q3-12.
Could be overbought @$12 right now per stockcharts.com PCS chart. Weekly chart not quite so overbought.
Moorman at S&P just raised target price to $15 from $11 and raised 2012 EPS estimate and initiated 2013 EPS estimate over $1.00.
PCS at about $12; $12.75 resistance; support is at $11.25, which was the old recovery high before this weeks run. In this range PCS is filling the gap.
$8.68 PCS 2011 end of year closing price. If we can close and stay over $9 we might get some upside movement in PCS' stock price. GLTA
PCS @ $7.57, new 52 week low. After gaining about one million subs in the last year and building out their G4-LTE network, IMO this is incredible. PCS has almost $6 in cash per share, albeit twice the amount in debt.
S&P cuts target to $11 from $16 and from "Strong Buy" to "Buy." Moorman at S&P says PCS' 4.5% churn is part of the reason and possible "congestion" on it's CDMA network.
Thus in a matter of months Moorman has cut PCS' target price from $23 to $11, amazing, simply amazing.
You are welcome. One thing I forgot to mention was that weekly charts trump daily charts. Always study the weekly charts after studying the daily charts. Once you really understand this, you have a leg up on most investors.
There are some good Seeking Alpha articles on PCS by an author who is long PCS. I am long PCS as well.
The S&P Stock Report by J. Moorman on PCS has a "Strong Buy" and a 12 month price target of $16. As of late October S&P's "Fair Value" calculation is over $12 for PCS. But one must be careful of S&P Stock Report, though they are a good source of information.
PCS earnings are to be reported on November 1. Moorman has his estimate for Q3 earnings at $0.21. We should know a lot more about where PCS is right now after earnings.
Learn to read and understand the charts at StockCharts.com, it is free. I recommend you read Murphy's "Technical Analysis of the Financial Markets," and Kahn's "Technical Analysis Plain and Simple. Both are available at Amazon. It takes years of study to really begin to be able to read a stocks chart.
PCS is a volatile stock, treat it as such.
You are asking for investment advise on a message board. Do your DD. I took your ATT post off the PCS message board.
"... shortfall in wireless spectrum..." http://finance.yahoo.com/news/MetroPCS-says-uniquely-placed-rb-817046454.html?x=0&.v=1
PCS @ $7.93, -8%, after hitting a new 52 week low today. PCS should have been up today on news of Sprint's ($2.41 -20%) cutting CLWR/Wi-max ($1.39 -32%) out of it's wireless network next year.
IMO "someone" keeping PCS' stock price down.
Steve Jobs dead at 56. Life is strange. R.I.P. Steve and God Bless your family.
Jobs was one of the creators of "Silicon Valley" here in the Bay Area along with Woz and the Apple team. He got fired from and came back after many years to lead it to glory.
Of course if Stanford University where not in Palo Alto, neither would Silicon Valley be here either (I went to Cal so I am no Stanford fan). Not too many people know this but in the 1950's and 1960's Stanford University recruited technology companies, one the first was HP, which has since lost it's way. And now there is Silicon Valley in the South Bay, which isn't really a valley, and has spread all over the Bay Area, the East Bay, West Bay and North Bay.
But if any company typified Silicon Valley it was Apple. Started in a garage, like HP, and survived attack after attack by "The Dark Side," i.e. Microsoft, to go on to tech glory.
I have always bought Apple products, I'm writing this on a MacBook Pro and I have bought Apple computers since the 1990's. I swore to never support Microsoft if I could help it.
Thank goodness for Steve Jobs and Apple. He will be missed by all---
Short interest exploded before August sell-off from >$16 to <$9:
http://www.nasdaq.com/symbol/pcs/short-interest
I kept saying to myself that is usually not how the big boys distribute there positions, unless there is some catastrophic catalyst in the stock that demands a sudden reversal. PCS' Q2 results missed EPS estimates but anyone see a "smoking gun?'
The money is made in the BUYING. Buy the right stocks at low prices and you will make money.
Have the patience of ten wise men.
Be neither the "action" gambler (excessive trading), nor the "escapist" gambler.
Learn how to read the charts at Stockcharts.com (no connection). They have a good chart school and Murphy's "Technical Analysis of the Financial Markets" and Kahn's "Technical Analysis- Plain and Simple" are very good TA books. I would buy them both and read them!
Capital Research Global doubles down on PCS; becomes largest shareholder:
http://dallas.citybizlist.com/16/2011/9/14/Capital-Research-Global-Reports-424.7M-Stake-in-MetroPCS--cbl.aspx
At the end of Q2 Capital held 23.9M shares worth $250M @$10.45 a share (source NASDAQ.com).
Now they hold 40.64M shares worth about $424M.
PCS Q2-2011 institutional ownership: http://www.nasdaq.com/asp/holdings.asp?symbol=PCS&selected=PCS&FormType=Institutional
I did not mean to imply waiting for the "bullish signal" at $13 if you are considering purchasing PCS stock. Technically PCS is a "broken" stock right now. You have to use your best judgment as to a price buy point if you are considering buying PCS right now. I would agree, if you are considering purchasing PCS stock, the time to do it is before it gets to over $13.
All I meant was that using the "50% principle" on the P&F chart the halfway point back up on the low pole is about $13. If and when PCS can make up about 50% of the low pole, technically it would be extremely bullish for PCS, and the sooner the better. That is all I was trying say, not to suggest a buy point for the stock.
Re: "set-piece," from my experience when the institutions want to distribute a stock they usually do it slowly, so as to not create panic selling, unless there is some strong reason to get out of a stock quickly, at all costs. IMO there was no "smoking gun" in PCS' Q2-11 results that justified "panic selling," causing it to lose over 40% of it's value, but that is what it did. PCS still earned $0.23, has about $1.85B in cash and gained almost 200K subs in Q2, for a total of almost 9.1M. PCS has gained almost one million subs in six months in 2011 and yet the stock is almost at a 52 week low after the sell off. So Mr. Market is saying it does not matter that PCS has gained over one million subs in the past year.
Still "the market" is always right. This has been a vicious sell off. Moorman at S&P reduced his price target to $16 from $23 based on higher chun and lower margins, so maybe that was part of the reason for the sell off in PCS.
Per P&F chart >$13= "bullish." http://stockcharts.com/freecharts/gallery.html?PCS
Long pole down from $17 to current $9.33. About +50% from bottom of long pole down is about $13 per share. If and when PCS can get +50% from bottom of long pole down, over $13, it would be bullish technically for the stock.
Re: shorts, "someone" made a fortune last week on PCS. IMO such downside dramatics is not how institutions usually liquidate a position. They usually like to creek out of a position to limit the downside while they are liquidating, unless some catastrophic event happens. PCS' Q2-11 results were "OK," and such a sell-off was a "set-piece" as far as I am concerned and had nothing to do with PCS' Q2-11 results. Of course overall market getting hammered did not help.
S&P "fair value" for PCS is $12.80 as of 8/7/11. This is down from $18 before the -41% of last weeks blood bath. S&P analyst Moorman lowered his 12 month price target for PCS to $16 from $23, but still has a "strong buy," amazingly enough (it disturbs me that a stock he covers losses 41% in one week and he still has a "strong buy" on the stock).
PCS is currently at about $9.50.
"An Options Play for Oversold MetroPCS": http://seekingalpha.com/article/285460-an-options-play-for-oversold-metropcs?source=yahoo At the time this article was written PCS was at about $9.50.
11,613 for the Dow and 1,256 for the S&P were the March 2011 lows. Both were violated today, not good.
IMO the sell-off of PCS to under $10 from over $16 was a "set piece." Weak hands are playing into the strong hands. PCS still made $0.23 a share in Q2-11 and has about $1.85B in cash. But this kind of damage to PCS will take time to recover and the overall market weakness is also a factor in PCS' weakness right now.
PCS @ $10.26 8/2/11 close; -$5.92, -36% on the day, almost 60 million shares traded. Missed Q2 EPS est. of $0.28 by $0.04, coming in at $0.24. They are treating this as if PCS is a different company after today's results. Read Earnings Transcript twice, can't find smoking gun. Any comments? (No bashing please).
Graph of PCS retail stores growth: http://seekingalpha.com/article/281582-misinterpreting-data-how-the-wsj-got-the-wireless-jobs-story-wrong
New Huawei M835 Android phone $80: http://mobile.engadget.com/2011/07/14/metropcs-officially-intros-huawei-m835-android-for-80-sans-cont/
No. Your post is for PCS International. The board is for MetroPCS. They two different companies.
Article on DISH mentions PCS: http://www.investors.com/NewsAndAnalysis/Article.aspx?id=576951&ven=yahoo