Sprint Corporation (S) Given Consensus Recommendation of “Hold” by Analysts
Shares of Sprint Corporation (NYSE:S) have earned an average rating of “Hold” from the twenty-four brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.22.
A number of equities research analysts have weighed in on S shares. HSBC Holdings plc restated a “reduce” rating and issued a $7.20 target price on shares of Sprint Corporation in a research report on Friday, June 16th. ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company restated a “market perform” rating and issued a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. BidaskClub downgraded Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Jefferies Group LLC restated an “underperform” rating on shares of Sprint Corporation in a research report on Friday, June 30th.
Sprint Corporation (NYSE:S) traded down 2.89% during trading on Friday, reaching $7.74. The company had a trading volume of 14,911,246 shares. The firm’s market capitalization is $30.94 billion. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The company has a 50-day moving average of $8.32 and a 200-day moving average of $8.37.
Sprint Corporation (NYSE:S) last released its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Analysts expect that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after acquiring an additional 38,431,100 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sprint Corporation by 0.8% in the second quarter. Vanguard Group Inc. now owns 37,971,867 shares of the cell phone carrier’s stock worth $311,749,000 after acquiring an additional 301,765 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Sprint Corporation by 0.7% in the first quarter. Primecap Management Co. CA now owns 36,683,700 shares of the cell phone carrier’s stock worth $318,415,000 after acquiring an additional 242,400 shares during the last quarter. State Street Corp increased its stake in shares of Sprint Corporation by 1.7% in the first quarter. State Street Corp now owns 14,713,069 shares of the cell phone carrier’s stock worth $127,704,000 after acquiring an additional 243,184 shares during the last quarter. Finally, Odey Asset Management Group Ltd increased its stake in shares of Sprint Corporation by 107.3% in the second quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock worth $66,706,000 after acquiring an additional 4,204,955 shares during the last quarter. 13.96% of the stock is currently owned by institutional investors and hedge funds.
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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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