Zacks Investment Research Lowers Spark New Zealand Ltd (SPKKY) to Sell

Zacks Investment Research downgraded shares of Spark New Zealand Ltd (NASDAQ:SPKKY) from a hold rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “Spark New Zealand Limited provides digital services. The company operates through five segments: Retail, Wholesale & International, Gen-i, AAPT, and Technology & Shared Services. It provides fixed line, mobile, and Internet services, voice, interconnect, managed data, and international products and services and telecommunication services. The Company integrates IT and telecommunications services to provide converged information and communication technologies solutions. Spark New Zealand Limited, formerly known as Telecom Corporation of New Zealand Limited, is headquartered in Auckland, New Zealand. “

Spark New Zealand (NASDAQ:SPKKY) traded up 1.04% during mid-day trading on Tuesday, reaching $12.63. 6,868 shares of the company’s stock traded hands. The firm has a market cap of $23.13 billion and a price-to-earnings ratio of 85.92. The firm’s 50-day moving average price is $12.63 and its 200 day moving average price is $12.49. Spark New Zealand has a one year low of $11.65 and a one year high of $14.51.

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Spark New Zealand Company Profile

Spark New Zealand Limited is a supplier of telecommunications and digital services in New Zealand. The Company operates through three segments: Spark Home, Mobile & Business; Spark Digital, and Spark Connect. The Spark Home, Mobile & Business segment provides fixed line, mobile and Internet services to consumers and the small medium business market, and includes Spark Ventures.

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