Sprint Corp. (S) Price Target Raised to $6.00 at Barclays PLC
Sprint Corp. (NYSE:S) had its price target increased by equities researchers at Barclays PLC from $5.00 to $6.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “equal weight” rating on the cell phone carrier’s stock. Barclays PLC’s price objective points to a potential downside of 9.77% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Pacific Crest reaffirmed a “sell” rating on shares of Sprint Corp. in a report on Sunday, July 17th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Sprint Corp. in a research note on Tuesday, July 26th. Royal Bank Of Canada increased their price target on Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 26th. FBR & Co reissued a “buy” rating and issued a $6.00 price target on shares of Sprint Corp. in a research note on Tuesday, June 7th. Finally, Macquarie reissued a “positive” rating and issued a $4.00 price target on shares of Sprint Corp. in a research note on Thursday, June 2nd. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.48.
Shares of Sprint Corp. (NYSE:S) traded up 3.233% during trading on Tuesday, hitting $6.865. The company had a trading volume of 8,183,540 shares. The firm has a 50 day moving average of $6.28 and a 200 day moving average of $4.52. Sprint Corp. has a 12-month low of $2.18 and a 12-month high of $7.03. The stock’s market cap is $27.31 billion.
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Sprint Corp. (NYSE:S) last released its quarterly earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.00. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $8.69 billion. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. Sprint Corp.’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) EPS. On average, analysts forecast that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. MIG Capital LLC raised its position in shares of Sprint Corp. by 1.6% in the first quarter. MIG Capital LLC now owns 7,229,415 shares of the cell phone carrier’s stock valued at $25,158,000 after buying an additional 114,015 shares in the last quarter. LPL Financial LLC increased its stake in Sprint Corp. by 7.3% in the first quarter. LPL Financial LLC now owns 80,094 shares of the cell phone carrier’s stock valued at $280,000 after buying an additional 5,442 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Sprint Corp. by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,146,632 shares of the cell phone carrier’s stock valued at $9,724,000 after buying an additional 39,804 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Sprint Corp. during the first quarter valued at approximately $2,897,000. Finally, TIAA CREF Investment Management LLC increased its stake in Sprint Corp. by 4.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,187,247 shares of the cell phone carrier’s stock valued at $11,092,000 after buying an additional 142,300 shares during the last quarter. Hedge funds and other institutional investors own 14.93% of the company’s stock.
Sprint Corp. Company Profile
Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.
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