Sprint Corp. (S) Bonds Rise 1.2% During Trading
An issue of Sprint Corp. (NYSE:S) debt rose 1.2% against its face value during trading on Thursday. The high-yield issue of debt has a 7.25% coupon and is set to mature on September 15, 2021. The bonds in the issue are now trading at $101.63 and were trading at $100.95 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.
Several research firms have recently commented on S. Pacific Crest reaffirmed a “sell” rating on shares of Sprint Corp. in a report on Sunday, July 17th. Macquarie reissued an “outperform” rating and set a $8.00 target price (up from $7.00) on shares of Sprint Corp. in a research note on Thursday. 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 boosted their target price on shares of Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 26th. Finally, Morgan Stanley boosted their target price on shares of Sprint Corp. from $3.00 to $4.40 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $4.54.
Shares of Sprint Corp. (NYSE:S) opened at 6.77 on Friday. Sprint Corp. has a 52-week low of $2.18 and a 52-week high of $7.03. The company’s market capitalization is $26.93 billion. The firm has a 50-day moving average of $6.55 and a 200 day moving average of $4.89.
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Sprint Corp. (NYSE:S) last announced its quarterly earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.00. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.69 billion. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. Sprint Corp.’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company posted ($0.46) EPS. On average, analysts anticipate that Sprint Corp. will post ($0.83) EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Highland Capital Management LLC bought a new stake in shares of Sprint Corp. during the third quarter valued at approximately $121,000. Private Bank & Trust Co. boosted its position in shares of Sprint Corp. by 80.4% in the third quarter. Private Bank & Trust Co. now owns 18,515 shares of the cell phone carrier’s stock valued at $123,000 after buying an additional 8,250 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Sprint Corp. by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,411 shares of the cell phone carrier’s stock valued at $102,000 after buying an additional 758 shares in the last quarter. Amalgamated Bank boosted its position in shares of Sprint Corp. by 6.2% in the second quarter. Amalgamated Bank now owns 23,002 shares of the cell phone carrier’s stock valued at $140,000 after buying an additional 1,343 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Sprint Corp. by 16.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,415 shares of the cell phone carrier’s stock valued at $115,000 after buying an additional 3,612 shares in the last quarter. Hedge funds and other institutional investors own 14.92% of the company’s stock.
Sprint Corp. Company Profile
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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