Sprint’s Outperform Rating Reiterated at Wells Fargo & Co. (S)
S has been the subject of a number of other recent research reports. 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Sprint currently has an average rating of “Hold” and a consensus target price of $7.63.
Shares of Sprint (NYSE:S) traded up 1.99% on Wednesday, hitting $5.65. 16,041,862 shares of the company’s stock traded hands. 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 $6.6 and its 200-day moving average is $8.19. The company’s market cap is $22.292 billion. Sprint also was the target of a significant 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. Based on an average daily volume of 38,828,518 shares, the short-interest ratio is currently 2.6 days. Approximately 12.9% of the shares of the company are sold short.
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.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.
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