Traders Purchase High Volume of Sprint Corp. Put Options (S)
Sprint Corp. (NYSE:S) was the recipient of some unusual options trading on Friday. Stock traders acquired 11,142 put options on the stock, AnalystRatings.NET reports. This is an increase of approximately 107% compared to the average volume of 5,379 put options.
A number of research firms have recently commented on S. Analysts at S&P Equity Research downgraded shares of Sprint Corp. from a “hold” rating to a “sell” rating in a research note to investors on Friday. Separately, analysts at Stifel Nicolaus downgraded shares of Sprint Corp. from a “hold” rating to a “sell” rating in a research note to investors on Friday. They noted that the move was a valuation call. Finally, analysts at Macquarie downgraded shares of Sprint Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $8.25 price target on the stock, up previously from $7.50. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.53.
Shares of Sprint Corp. (NYSE:S) traded down 4.42% on Friday, hitting $9.94. 25,583,616 shares of the company’s stock traded hands. Sprint Corp. has a 52 week low of $5.61 and a 52 week high of $11.47. The stock has a 50-day moving average of $8.58 and a 200-day moving average of $7.07. The company’s market cap is $39.086 billion.
Sprint Corp. (NYSE:S) last released its earnings data on Wednesday, October 30th. The company reported $0.00 earnings per share for the quarter. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.69 billion. On average, analysts predict that Sprint Corp. will post $-0.96 earnings per share for the current fiscal year.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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