Sprint’s (S) Neutral Rating Reaffirmed at Citigroup

Sprint (NYSE:S)‘s stock had its “neutral” rating reiterated by Citigroup in a report issued on Thursday. They presently have a $6.50 price target on the cell phone carrier’s stock, down from their prior price target of $7.50. Citigroup’s price objective would suggest a potential upside of 21.04% from the stock’s previous close.

A number of other brokerages have also weighed in on S. TheStreet raised Sprint from a “d+” rating to a “c” rating in a research note on Friday, February 2nd. Robert W. Baird reissued a “hold” rating and set a $6.00 price target on shares of Sprint in a research note on Friday, February 2nd. Bank of America increased their price target on Sprint from $2.60 to $3.00 and gave the stock an “underperform” rating in a research note on Monday. Cowen reissued a “hold” rating on shares of Sprint in a research note on Monday. Finally, Moffett Nathanson reissued a “sell” rating on shares of Sprint in a research note on Thursday, October 12th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.11.

Sprint (NYSE S) traded down $0.15 during mid-day trading on Thursday, reaching $5.37. The company had a trading volume of 26,660,000 shares, compared to its average volume of 18,620,000. Sprint has a 12-month low of $4.91 and a 12-month high of $9.44. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $21,500.00, a price-to-earnings ratio of 3.10 and a beta of 0.64.

Sprint (NYSE:S) last posted its earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter in the prior year, the company earned ($0.46) EPS. Sprint’s revenue was down 3.6% on a year-over-year basis. analysts anticipate that Sprint will post 0.88 EPS for the current year.

In related news, major shareholder Group Corp Softbank purchased 5,039,477 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average cost of $5.60 per share, for a total transaction of $28,221,071.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jorge Enrique Gracia sold 112,959 shares of the stock in a transaction 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 sale, the insider now 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 ninety days, insiders purchased 61,601,426 shares of company stock worth $356,550,225 and sold 913,236 shares worth $5,377,413. Company insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of Sprint by 6,509.8% during the second quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after acquiring an additional 7,070,812 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sprint by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,075,012 shares of the cell phone carrier’s stock valued at $58,083,000 after acquiring an additional 50,302 shares in the last quarter. FMR LLC grew its stake in shares of Sprint by 3.1% during the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock valued at $31,492,000 after acquiring an additional 115,192 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sprint by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock valued at $27,973,000 after acquiring an additional 54,865 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Sprint by 2.2% during the third quarter. Legal & General Group Plc now owns 3,568,008 shares of the cell phone carrier’s stock valued at $27,759,000 after acquiring an additional 75,465 shares in the last quarter. Hedge funds and other institutional investors own 13.76% 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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