Sprint Corp. (S) Given New $8.00 Price Target at FBR & Co
Sprint Corp. (NYSE:S) had its target price increased by investment analysts at FBR & Co from $7.00 to $8.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the cell phone carrier’s stock. FBR & Co’s price objective suggests a potential upside of 16.62% from the company’s previous close.
Other research analysts have also issued reports about the company. Wells Fargo & Co. reissued a “buy” rating on shares of Sprint Corp. in a research report on Sunday, September 11th. Macquarie reissued an “outperform” rating and set a $7.00 price target on shares of Sprint Corp. in a research report on Friday, September 23rd. Citigroup Inc. boosted their target price on Sprint Corp. from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, September 15th. Buckingham Research downgraded Sprint Corp. from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $5.00 to $3.50 in a research note on Thursday, August 25th. They noted that the move was a valuation call. Finally, Barclays PLC boosted their target price on Sprint Corp. from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 20th. Nine 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 has an average rating of “Hold” and an average target price of $4.58.
Sprint Corp. (NYSE:S) opened at 6.86 on Wednesday. Sprint Corp. has a 1-year low of $2.18 and a 1-year high of $7.16. The stock has a 50 day moving average price of $6.60 and a 200 day moving average price of $4.98. The firm’s market capitalization is $27.29 billion.
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Sprint Corp. (NYSE:S) last announced its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.00. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $8.69 billion. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. Sprint Corp.’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 earned ($0.46) earnings per share. Analysts predict that Sprint Corp. will post ($0.83) EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. MIG Capital LLC boosted its stake in Sprint Corp. by 1.6% in the first quarter. MIG Capital LLC now owns 7,229,415 shares of the cell phone carrier’s stock worth $25,158,000 after buying an additional 114,015 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sprint Corp. by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,146,632 shares of the cell phone carrier’s stock worth $9,724,000 after buying an additional 39,804 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Sprint Corp. during the first quarter worth approximately $2,897,000. TIAA CREF Investment Management LLC raised its position in shares of Sprint Corp. by 4.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,187,247 shares of the cell phone carrier’s stock worth $11,092,000 after buying an additional 142,300 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its position in shares of Sprint Corp. by 2.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 27,801 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 600 shares during the last quarter. 14.91% of the stock is owned by hedge funds and other 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.
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