BlackRock Inc. grew its holdings in shares of Sprint Corp (NYSE:S) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,490,226 shares of the cell phone carrier’s stock after purchasing an additional 7,188,919 shares during the period. BlackRock Inc. owned about 1.09% of Sprint worth $256,158,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Commerce Bank acquired a new position in shares of Sprint during the 3rd quarter worth approximately $100,000. Crossmark Global Holdings Inc. acquired a new position in shares of Sprint during the 3rd quarter worth approximately $141,000. Americafirst Capital Management LLC acquired a new position in shares of Sprint during the 3rd quarter worth approximately $156,000. Capital Bank & Trust Co grew its position in shares of Sprint by 10,821.7% during the 3rd quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after purchasing an additional 21,427 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Sprint by 518.9% during the 3rd quarter. Macquarie Group Ltd. now owns 29,832 shares of the cell phone carrier’s stock worth $232,000 after purchasing an additional 25,012 shares in the last quarter. Hedge funds and other institutional investors own 13.63% of the company’s stock.
Several research firms recently issued reports on S. Citigroup reiterated a “neutral” rating and set a $6.50 price target (down previously from $7.50) on shares of Sprint in a research report on Thursday, February 8th. TheStreet upgraded shares of Sprint from a “d+” rating to a “c” rating in a research report on Friday, February 2nd. Bank of America increased their price target on shares of Sprint from $2.60 to $3.00 and gave the stock an “underperform” rating in a research report on Monday, February 5th. Cowen reiterated a “hold” rating on shares of Sprint in a research report on Monday, February 5th. Finally, Robert W. Baird reiterated a “hold” rating and set a $6.00 price target on shares of Sprint in a research report on Friday, February 2nd. Nine equities research 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. The company has an average rating of “Hold” and an average price target of $6.11.
Shares of Sprint Corp (NYSE S) opened at $5.32 on Tuesday. Sprint Corp has a 52-week low of $4.91 and a 52-week high of $9.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. The firm has a market cap of $21,300.00, a P/E ratio of -532.00 and a beta of 0.64.
Sprint (NYSE:S) last issued its earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Sprint had a net margin of 0.80% and a return on equity of 1.28%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter last year, the business posted ($0.46) earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. equities research analysts expect that Sprint Corp will post 1.76 EPS for the current fiscal year.
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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.
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