Sprint Rating Reiterated by Goldman Sachs (S)
Sprint (NYSE:S) traded down 1.25% during mid-day trading on Tuesday, hitting $5.54. 18,307,698 shares of the company’s stock traded hands. 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 $6.74 and a 200-day moving average of $8.21. The company’s market cap is $21.858 billion. Sprint also saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 100,412,481 shares, an increase of 18.7% from the July 31st total of 84,571,795 shares. Currently, 12.9% of the company’s shares are sold short. Based on an average daily trading volume, of 38,828,518 shares, the short-interest ratio is currently 2.6 days.
Sprint (NYSE:S) last released its earnings data on Wednesday, July 30th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.53) earnings per share. Sprint’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Sprint will post $-0.14 EPS for the current fiscal year.
A number of other firms have also recently commented on S. Analysts at Barclays reiterated an “equal weight” rating on shares of Sprint in a research note on Wednesday, August 27th. They now have a $6.00 price target on the stock, down previously from $9.00. Separately, analysts at Canaccord Genuity cut their price target on shares of Sprint from $7.50 to $5.75 in a research note on Wednesday, August 27th. They now have a “hold” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Sprint from $8.00 to $7.00 in a research note on Monday, August 25th. They now have a “sector perform” rating on the stock. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Sprint has an average rating of “Hold” and an average price target of $7.63.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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