Sprint Corp. (S) PT Raised to $6.00 at Citigroup Inc.
Sprint Corp. (NYSE:S) had its price target upped by stock analysts at Citigroup Inc. from $4.75 to $6.00 in a report issued on Tuesday. The firm presently has a “neutral” rating on the cell phone carrier’s stock. Citigroup Inc.’s price objective would suggest a potential downside of 7.41% from the stock’s current price.
Several other equities research analysts have also recently issued reports on S. FBR & Co reissued a “buy” rating and set a $6.00 target price on shares of Sprint Corp. in a research note on Wednesday, May 4th. Pacific Crest restated a “sell” rating on shares of Sprint Corp. in a research report on Sunday, July 17th. Moffett Nathanson restated a “sell” rating on shares of Sprint Corp. in a research report on Tuesday, May 3rd. Jefferies Group restated a “sell” rating on shares of Sprint Corp. in a research report on Wednesday, May 4th. Finally, Macquarie restated a “positive” rating and set a $4.00 price target on shares of Sprint Corp. in a research report on Thursday, June 2nd. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Sprint Corp. presently has a consensus rating of “Hold” and a consensus target price of $4.49.
Shares of Sprint Corp. (NYSE:S) traded down 0.77% during midday trading on Tuesday, hitting $6.48. The company’s stock had a trading volume of 12,176,605 shares. The firm’s market cap is $25.78 billion. The firm has a 50-day moving average of $6.47 and a 200 day moving average of $4.80. Sprint Corp. has a 12-month low of $2.18 and a 12-month high of $7.03.
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Sprint Corp. (NYSE:S) last posted 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 quarter last year, the firm earned ($0.46) earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that Sprint Corp. will post ($0.83) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in S. Norges Bank purchased a new stake in shares of Sprint Corp. during the fourth quarter valued at approximately $271,967,000. First Trust Advisors LP raised its stake in shares of 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 valued at $92,292,000 after buying an additional 20,347,461 shares during the period. Folger Hill Asset Management LP purchased a new stake in shares of Sprint Corp. during the fourth quarter valued at approximately $31,298,000. Primecap Management Co. CA raised its stake in shares of 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 valued at $165,625,000 after buying an additional 7,671,300 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Sprint Corp. during the second quarter valued at approximately $24,937,000. 14.92% of the stock is currently owned by 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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