Sprint Corp. (S) Bonds Trading 1.5% Higher
An issue of Sprint Corp. (NYSE:S) debt rose 1.5% as a percentage of its face value during trading on Wednesday. The debt issue has a 6% coupon and will mature on November 15, 2022. The debt is now trading at $90.50 and was trading at $87.35 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
A number of analysts have commented on S shares. Nomura upped their price target on Sprint Corp. to $6.00 in a research report on Tuesday, July 26th. FBR & Co restated a “buy” rating and issued a $6.00 price target on shares of Sprint Corp. in a research report on Tuesday, June 7th. Wells Fargo & Co. reiterated a “buy” rating on shares of Sprint Corp. in a research report on Sunday, September 11th. Barclays PLC increased their target price on Sprint Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 26th. Finally, Zacks Investment Research upgraded Sprint Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.48.
Sprint Corp. (NYSE:S) opened at 6.36 on Thursday. Sprint Corp. has a one year low of $2.18 and a one year high of $7.03. The stock has a 50 day moving average price of $6.29 and a 200-day moving average price of $4.55. The stock’s market capitalization is $25.30 billion.
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Sprint Corp. (NYSE:S) last issued its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.00. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.69 billion. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. Analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Sprint Corp. by 4.7% in the second quarter. Vanguard Group Inc. now owns 38,197,106 shares of the cell phone carrier’s stock worth $173,033,000 after buying an additional 1,719,929 shares during the period. Primecap Management Co. CA boosted its position in Sprint Corp. by 26.6% in the second quarter. Primecap Management Co. CA now owns 36,561,800 shares of the cell phone carrier’s stock worth $165,625,000 after buying an additional 7,671,300 shares during the period. First Trust Advisors LP boosted its position in Sprint Corp. by 78,073.3% in the second quarter. First Trust Advisors LP now owns 20,373,523 shares of the cell phone carrier’s stock worth $92,292,000 after buying an additional 20,347,461 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Sprint Corp. by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,119,776 shares of the cell phone carrier’s stock worth $66,537,000 after buying an additional 589,453 shares during the period. Finally, BlackRock Fund Advisors boosted its position in Sprint Corp. by 26.1% in the second quarter. BlackRock Fund Advisors now owns 17,746,561 shares of the cell phone carrier’s stock worth $80,392,000 after buying an additional 3,676,883 shares during the period. Hedge funds and other institutional investors own 14.92% 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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