Sprint Corp. (S) Debt Trading 2.2% Higher
An issue of Sprint Corp. (NYSE:S) bonds rose 2.2% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 6.875% coupon and is set to mature on November 15, 2028. The debt is now trading at $94.50 and was trading at $93.63 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
Several analysts have recently commented on S shares. Macquarie reaffirmed an “outperform” rating and set a $5.50 price objective on shares of Sprint Corp. in a research report on Friday, July 15th. Morgan Stanley raised their price objective on shares of Sprint Corp. from $3.00 to $4.40 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. Barclays PLC raised their price objective on shares of Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 20th. Citigroup Inc. raised their price objective on shares of Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, September 15th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and set a $9.00 price objective on shares of Sprint Corp. in a research report on Sunday, August 21st. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corp. presently has an average rating of “Hold” and a consensus price target of $4.54.
Sprint Corp. (NYSE:S) opened at 6.92 on Tuesday. Sprint Corp. has a one year low of $2.18 and a one year high of $7.10. The stock’s 50 day moving average price is $6.60 and its 200 day moving average price is $4.97. The stock’s market cap is $27.53 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/sprint-corp-s-debt-trading-2-2-higher.html
Sprint Corp. (NYSE:S) last released its quarterly earnings data 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 company had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.69 billion. During the same period last year, the firm posted ($0.46) earnings per share. Sprint Corp.’s revenue was down .2% compared to the same quarter last year. Equities analysts predict that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its stake in 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 during the period. Cambridge Investment Research Advisors Inc. increased its position in 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 worth $115,000 after buying an additional 3,612 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Sprint Corp. by 4.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,155 shares of the cell phone carrier’s stock worth $119,000 after buying an additional 1,000 shares in the last quarter. Highland Capital Management LLC purchased a new position in Sprint Corp. during the third quarter worth $121,000. Finally, Private Bank & Trust Co. increased its position in 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 worth $123,000 after buying an additional 8,250 shares in the last quarter. 14.91% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Sprint Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corp. and related companies with MarketBeat.com's FREE daily email newsletter.