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Stock analysts at Canaccord Genuity reduced their target price on shares of Sprint (NYSE:S) from $7.50 to $5.75 in a report issued on Wednesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price points to a potential downside of 0.35% from the stock’s previous close.

Shares of Sprint (NYSE:S) opened at 5.77 on Wednesday. Sprint has a 52-week low of $5.36 and a 52-week high of $11.47. The stock’s 50-day moving average is $7.00 and its 200-day moving average is $8.26. The company’s market cap is $22.765 billion. Sprint also was the recipient of a significant growth in short interest in 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. Currently, 12.9% of the shares of the stock are sold short. Based on an average daily volume of 38,828,518 shares, the days-to-cover ratio is currently 2.6 days.

Sprint (NYSE:S) last issued its quarterly 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 prior year, the company posted ($0.53) earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Sprint will post $-0.13 earnings per share for the current fiscal year.

S has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Sprint in a research note on Tuesday, August 19th. They now have a $6.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $7.87.

Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.

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