Barclays Reiterates “Equal Weight” Rating for Sprint (S)
Sprint (NYSE:S)‘s stock had its “equal weight” rating reissued by equities researchers at Barclays in a research report issued on Wednesday. They currently have a $6.00 price objective on the stock, down from their previous price objective of $9.00. Barclays’ target price points to a potential upside of 3.99% from the stock’s previous close.
A number of other analysts have also recently weighed in on S. Analysts at Canaccord Genuity cut their price target on shares of Sprint from $7.50 to $5.75 in a research note on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Sprint from $8.00 to $7.00 in a research note on Monday. They now have a “sector perform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Sprint from $7.00 to $4.00 in a research note on Tuesday, August 19th. They now have an “underperform” rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.63.
Shares of Sprint (NYSE:S) traded down 0.17% on Wednesday, hitting $5.76. The stock had a trading volume of 3,765,163 shares. Sprint has a 1-year low of $5.36 and a 1-year high of $11.47. The stock has a 50-day moving average of $7.00 and a 200-day moving average of $8.26. The company’s market cap is $22.726 billion. Sprint also was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 100,412,481 shares, a growth of 18.7% from the July 31st total of 84,571,795 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average trading volume of 38,828,518 shares, the short-interest ratio is presently 2.6 days.
Sprint (NYSE:S) last released its earnings data on Wednesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Sprint will post $-0.13 EPS 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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