Sprint Target of Unusually High Options Trading (S)
Sprint (NYSE:S) was the recipient of some unusual options trading activity on Tuesday. Investors bought 20,851 put options on the stock, American Banking and Market News reports. This is an increase of 112% compared to the average daily volume of 9,849 put options.
A number of analysts have recently weighed in on S shares. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Sprint in a research note on Tuesday. Separately, 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. Finally, 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. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.63.
Sprint (NYSE:S) traded down 1.25% during mid-day trading on Tuesday, hitting $5.54. 18,311,204 shares of the company’s stock traded hands. Sprint has a one year low of $5.36 and a one 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 (NYSE:S) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Sprint will post $-0.14 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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