Sprint (S) Stock Rating Reaffirmed by Barclays

Sprint (NYSE:S)‘s stock had its “hold” rating reaffirmed by equities researchers at Barclays in a research report issued to clients and investors on Friday. They presently have a $5.00 target price on the cell phone carrier’s stock. Barclays’ target price suggests a potential downside of 6.37% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Tuesday, October 3rd. Deutsche Bank dropped their price objective on Sprint from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Sprint in a report on Wednesday, October 11th. ValuEngine lowered Sprint from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, BTIG Research upped their price objective on Sprint from $3.85 to $4.00 and gave the stock a “sell” rating in a report on Wednesday, October 18th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Sprint presently has an average rating of “Hold” and an average target price of $6.52.

Sprint (S) opened at $5.34 on Friday. The stock has a market capitalization of $21,961.90, a P/E ratio of -35.60 and a beta of 0.79. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80. Sprint has a twelve month low of $5.24 and a twelve month high of $9.65.

Sprint (NYSE:S) last released its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $7.93 billion for the quarter, compared to analyst estimates of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. sell-side analysts forecast that Sprint will post -0.01 EPS for the current year.

In other news, major shareholder Group Corp Softbank bought 6,149,090 shares of the stock in a transaction on Tuesday, January 16th. The shares were bought at an average price of $5.68 per share, with a total value of $34,926,831.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tarek Robbiati sold 363,529 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the completion of the sale, the chief financial officer now directly owns 1,901,974 shares in the company, valued at approximately $11,411,844. The disclosure for this sale can be found here. In the last three months, insiders acquired 72,408,783 shares of company stock worth $421,783,446 and sold 913,236 shares worth $5,377,413. 0.18% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of S. Taylor Wealth Management Partners purchased a new stake in shares of Sprint in the fourth quarter valued at $0. Wetherby Asset Management Inc. purchased a new stake in shares of Sprint in the second quarter valued at $100,000. Financial Counselors Inc. lifted its position in Sprint by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after buying an additional 201 shares during the period. Commerce Bank purchased a new position in Sprint during the third quarter worth about $100,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Sprint by 3.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 22,411 shares of the cell phone carrier’s stock worth $102,000 after buying an additional 758 shares during the period. Institutional investors and hedge funds own 13.74% of the company’s stock.

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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.

Analyst Recommendations for Sprint (NYSE:S)

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