Sprint Corporation (S) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Sprint Corporation (NYSE:S) have earned an average recommendation of “Hold” from the twenty-five brokerages that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.22.
S has been the topic of several recent research reports. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday. BidaskClub cut shares of Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Cowen and Company reissued a “hold” rating and set a $6.50 price target on shares of Sprint Corporation in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 target price on shares of Sprint Corporation in a research report on Friday, July 14th.
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Sprint Corporation (S) traded down 4.05% during midday trading on Wednesday, hitting $7.58. 26,883,889 shares of the stock traded hands. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The stock has a 50-day moving average of $8.02 and a 200 day moving average of $8.26. The firm’s market cap is $30.30 billion.
Sprint Corporation (NYSE:S) last announced its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Wetherby Asset Management Inc. purchased a new position in Sprint Corporation in the second quarter valued at approximately $100,000. Financial Counselors Inc. increased its stake in Sprint Corporation by 1.7% in the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares during the last quarter. Summit Securities Group LLC purchased a new position in Sprint Corporation in the second quarter valued at approximately $108,000. Advisors Asset Management Inc. increased its stake in 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 purchasing an additional 318 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Sprint Corporation in the second quarter valued at approximately $125,000. Institutional investors own 13.95% of the company’s stock.
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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