Sprint Corporation’s (NYSE:S) “Market Perform” Rating Reaffirmed at Cowen and Company
Sprint Corporation (NYSE:S)‘s stock had its “market perform” rating reiterated by stock analysts at Cowen and Company in a research note issued on Tuesday. They currently have a $6.50 price objective on the cell phone carrier’s stock. Cowen and Company’s target price would suggest a potential downside of 22.62% from the stock’s current price.
A number of other research analysts have also commented on the stock. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “sell” rating and issued a $5.00 price target on shares of Sprint Corporation in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. UBS AG restated a “neutral” rating and issued a $9.00 price target on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $8.00 price target on shares of Sprint Corporation in a research report on Sunday, July 9th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.78.
Sprint Corporation (NYSE S) traded down 2.55% during trading on Tuesday, reaching $8.40. The company’s stock had a trading volume of 9,714,665 shares. The firm has a 50 day moving average of $8.25 and a 200 day moving average of $8.49. The stock’s market capitalization is $33.54 billion. Sprint Corporation has a 52 week low of $5.83 and a 52 week high of $9.65.
Sprint Corporation (NYSE:S) last released its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The company had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Analysts expect that Sprint Corporation will post ($0.83) EPS for the current year.
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In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ronald Blue & Co. LLC increased its position in shares of Sprint Corporation by 1.1% in the first quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock valued at $185,000 after buying an additional 222 shares during the period. Advisors Asset Management Inc. increased its position in shares of Sprint Corporation by 2.2% in the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after buying an additional 318 shares during the period. Pacer Advisors Inc. increased its position in shares of Sprint Corporation by 1.9% in the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock valued at $223,000 after buying an additional 483 shares during the period. World Asset Management Inc increased its position in shares of Sprint Corporation by 2.9% in the first quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock valued at $214,000 after buying an additional 693 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Sprint Corporation by 5.8% in the first quarter. Mackenzie Financial Corp now owns 15,701 shares of the cell phone carrier’s stock valued at $136,000 after buying an additional 854 shares during the period. 14.35% of the stock is owned by institutional investors and hedge funds.
Sprint Corporation 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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