Sprint Corporation (S) Given Average Recommendation of “Hold” by Brokerages
Sprint Corporation (NYSE:S) has received an average recommendation of “Hold” from the twenty-five brokerages that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.82.
A number of equities analysts have commented on S shares. Macquarie lifted their target price on shares of Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. SunTrust Banks, Inc. started coverage on shares of Sprint Corporation in a research note on Tuesday, April 18th. They set a “hold” rating and a $9.00 target price on the stock. Cowen and Company reduced their target price on shares of Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, May 4th. TheStreet raised shares of Sprint Corporation from a “d+” rating to a “c+” rating in a research note on Wednesday, May 3rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total transaction of $201,102.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of S. Sigma Planning Corp purchased a new position in Sprint Corporation during the first quarter valued at approximately $135,000. Quantbot Technologies LP purchased a new position in Sprint Corporation during the first quarter valued at approximately $1,023,000. Gateway Investment Advisers LLC boosted its position in Sprint Corporation by 132.6% in the second quarter. Gateway Investment Advisers LLC now owns 97,701 shares of the cell phone carrier’s stock valued at $802,000 after buying an additional 55,704 shares during the period. Karp Capital Management Corp purchased a new position in Sprint Corporation during the first quarter valued at approximately $1,792,000. Finally, Bank of America Corp DE boosted its position in Sprint Corporation by 16.8% in the first quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock valued at $5,605,000 after buying an additional 93,034 shares during the period. Institutional investors own 14.29% of the company’s stock.
Shares of Sprint Corporation (NYSE S) traded down 1.31% during trading on Tuesday, reaching $8.30. 9,493,681 shares of the company’s stock were exchanged. The company has a 50 day moving average of $8.35 and a 200 day moving average of $8.45. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. The stock’s market cap is $33.17 billion. Sprint Corporation also saw unusually large options trading activity on Monday. Stock investors bought 17,111 call options on the company. This is an increase of 361% compared to the average volume of 3,710 call options.
Sprint Corporation (NYSE:S) last issued its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the previous year, the firm earned ($0.08) earnings per share. Sprint Corporation’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current year.
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About Sprint Corporation
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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