Sunrise Communications (NASDAQ:SNRE) Stock Price Down 0.6% – Here’s Why

Sunrise Communications AG (NASDAQ:SNRE)’s stock price dropped 0.6% on Wednesday . The company traded as low as $52.98 and last traded at $53.45. Approximately 156,911 shares changed hands during trading, a decline of 79% from the average daily volume of 755,890 shares. The stock had previously closed at $53.75.

Analysts Set New Price Targets

Separately, Redburn Atlantic downgraded shares of Sunrise Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Sunrise Communications Stock Down 0.6%

The company has a 50-day moving average price of $49.92.

Sunrise Communications Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th will be issued a $3.7252 dividend. The ex-dividend date is Friday, May 16th.

Sunrise Communications Company Profile

Sunrise Communications AG engages in the provision of telecommunications solutions. The firm offers mobile, broadband, TV, and fixed-line telephony services to residential customers. It also provides mobile and broadband services, as well as a range of value-added portfolio services, including cloud services, cybersecurity, and automation to business customers.