NEW YORK ( TheStreet) -- Telecommunications company MetroPCS ( PCS) was the worst-performing stock in the S&P 500 midday Monday. The S&P was down 7.86 points to 1,361.77.
Shares of MetroPCS declined 5.87% to $9.94. The stock was downgraded to market perform from outperform at Bernstein on Monday. MetroPCS has an estimated price-to-earnings ratio for next year of 9.19 times; the average for mobile telecommunications companies is 18.76. For comparison, both Iridium Communications ( IRDM) and American Tower ( AMT) have higher forward P/Es of 10.22 and 31.98. Seventeen of the 30 analysts who cover MetroPCS rated it hold. Twelve analysts gave the stock a buy rating and one rated it sell. TheStreet Ratings gives MetroPCS a B- grade with a buy rating and $12.55 price target. The stock has risen 14.4% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.