Sprint Corporation (S) Given New $4.00 Price Target at BTIG Research
Sprint Corporation (NYSE:S) had its price target raised by equities research analysts at BTIG Research from $3.85 to $4.00 in a research report issued on Wednesday. The brokerage presently has a “sell” rating on the cell phone carrier’s stock. BTIG Research’s price objective would indicate a potential downside of 43.26% from the company’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research raised Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Tuesday, October 3rd. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Cowen and Company reissued a “hold” rating and issued a $6.50 price target on shares of Sprint Corporation in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $5.00 price target on shares of Sprint Corporation in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corporation currently has a consensus rating of “Hold” and a consensus target price of $10.18.
Sprint Corporation (S) traded down 0.56% during mid-day trading on Wednesday, hitting $7.05. The stock had a trading volume of 6,812,424 shares. The firm’s market cap is $28.18 billion. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. The stock has a 50-day moving average price of $7.81 and a 200 day moving average price of $8.20.
Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $8.16 billion during 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 company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. Equities analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its position in shares of Sprint Corporation by 1.2% in the second quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after purchasing an additional 802 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Sprint Corporation in the second quarter valued at $341,000. Public Employees Retirement System of Ohio grew its position in shares of Sprint Corporation by 24.7% in the second quarter. Public Employees Retirement System of Ohio now owns 432,391 shares of the cell phone carrier’s stock valued at $3,550,000 after purchasing an additional 85,526 shares during the period. Koch Industries Inc. purchased a new stake in shares of Sprint Corporation in the second quarter valued at $434,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Sprint Corporation in the second quarter valued at $1,088,000. 13.95% 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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