Sprint (S) Lowered to Buy at Vetr

Sprint (NYSE:S) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday. They currently have a $5.90 price objective on the cell phone carrier’s stock. Vetr‘s price objective would indicate a potential upside of 4.80% from the stock’s previous close.

A number of other research analysts also recently weighed in on S. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint in a research note on Thursday, October 12th. TheStreet downgraded Sprint from a “c-” rating to a “d+” rating in a research note on Tuesday, December 19th. KeyCorp set a $5.00 price target on Sprint and gave the stock an “underweight” rating in a research note on Tuesday. Oppenheimer reaffirmed a “hold” rating on shares of Sprint in a research note on Wednesday, September 20th. Finally, Zacks Investment Research downgraded Sprint from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Sprint currently has an average rating of “Hold” and a consensus price target of $6.72.

Sprint (NYSE:S) traded down $0.27 during mid-day trading on Thursday, reaching $5.63. The company had a trading volume of 35,122,000 shares, compared to its average volume of 14,870,000. Sprint has a fifty-two week low of $5.42 and a fifty-two week high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. The firm has a market cap of $22,520.00, a P/E ratio of -37.53 and a beta of 0.79.

Sprint (NYSE:S) last posted its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. equities analysts predict that Sprint will post -0.02 EPS for the current year.

In other Sprint news, major shareholder Group Corp Softbank bought 4,322,990 shares of Sprint stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $6.21 per share, with a total value of $26,845,767.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jorge Enrique Gracia sold 112,959 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $6.18, for a total value of $698,086.62. Following the completion of the transaction, the insider now directly owns 858,383 shares of the company’s stock, valued at $5,304,806.94. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 49,510,561 shares of company stock valued at $290,848,009 and have sold 913,236 shares valued at $5,377,413. Insiders own 0.18% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Financial Counselors Inc. grew its holdings in shares of Sprint 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 acquiring an additional 201 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Sprint by 2.2% during 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 period. Pacer Advisors Inc. grew its holdings in Sprint by 1.9% during the second quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after purchasing an additional 500 shares during the period. Advisory Services Network LLC grew its holdings in Sprint by 1.2% during 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. Finally, PNC Financial Services Group Inc. grew its holdings in Sprint by 4.6% during the second quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock valued at $359,000 after purchasing an additional 1,898 shares during the period. 13.74% of the stock is owned by institutional investors.

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Sprint 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Sprint (NYSE:S)

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