Sprint Corp. (S) Given New $7.00 Price Target at FBR & Co
Sprint Corp. (NYSE:S) had its price target raised by research analysts at FBR & Co from $6.00 to $7.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “outperform” rating on the cell phone carrier’s stock. FBR & Co’s target price suggests a potential upside of 8.02% from the stock’s previous close.
Several other brokerages have also recently commented on S. Barclays PLC increased their price target on Sprint Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 26th. Citigroup Inc. raised their price objective on Sprint Corp. from $4.75 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, July 26th. Royal Bank Of Canada raised their price objective on Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 26th. Macquarie reaffirmed an “outperform” rating and issued a $5.50 price objective on shares of Sprint Corp. in a research report on Friday, July 15th. Finally, Pacific Crest reaffirmed a “sell” rating on shares of Sprint Corp. in a research report on Sunday, July 17th. Nine equities research 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 company presently has an average rating of “Hold” and an average target price of $4.49.
Sprint Corp. (NYSE:S) traded down 0.77% during mid-day trading on Tuesday, hitting $6.48. The stock had a trading volume of 12,176,605 shares. The stock’s 50 day moving average price is $6.47 and its 200 day moving average price is $4.80. The firm’s market capitalization is $25.78 billion. Sprint Corp. has a one year low of $2.18 and a one year high of $7.03.
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Sprint Corp. (NYSE:S) last issued its quarterly earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.00. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. The firm earned $8 billion during the quarter, compared to analysts’ expectations of $8.69 billion. During the same period in the prior year, the firm posted ($0.46) earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. Analysts forecast that Sprint Corp. will post ($0.83) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank raised its position in Sprint Corp. by 1.4% in the fourth quarter. Swiss National Bank now owns 1,432,151 shares of the cell phone carrier’s stock valued at $5,184,000 after buying an additional 19,500 shares during the period. Rhumbline Advisers raised its position in Sprint Corp. by 8.6% in the fourth quarter. Rhumbline Advisers now owns 512,015 shares of the cell phone carrier’s stock valued at $1,853,000 after buying an additional 40,390 shares during the period. Morgan Stanley raised its position in Sprint Corp. by 290.0% in the fourth quarter. Morgan Stanley now owns 7,066,966 shares of the cell phone carrier’s stock valued at $25,583,000 after buying an additional 5,255,020 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Sprint Corp. during the fourth quarter valued at $17,376,000. Finally, Affinity Investment Advisors LLC raised its position in Sprint Corp. by 0.8% in the fourth quarter. Affinity Investment Advisors LLC now owns 507,080 shares of the cell phone carrier’s stock valued at $1,836,000 after buying an additional 4,050 shares during the period. 14.92% of the stock is owned by hedge funds and other institutional investors.
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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