Sprint Corp (NYSE:S) – Equities research analysts at Oppenheimer upped their Q3 2020 earnings per share estimates for Sprint in a report released on Tuesday, November 5th. Oppenheimer analyst T. Horan now expects that the cell phone carrier will post earnings of ($0.05) per share for the quarter, up from their prior estimate of ($0.07). Oppenheimer also issued estimates for Sprint’s Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at ($0.16) EPS and FY2021 earnings at ($0.10) EPS.
Several other analysts have also recently issued reports on S. ValuEngine raised shares of Sprint from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group raised shares of Sprint from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.50 to $10.00 in a research report on Monday, July 29th. Finally, Barclays reissued a “hold” rating and set a $6.00 price target on shares of Sprint in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.43.
Shares of S traded down $0.08 during mid-day trading on Friday, hitting $6.11. 10,028,652 shares of the company’s stock were exchanged, compared to its average volume of 17,742,869. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 611.00 and a beta of 0.28. Sprint has a fifty-two week low of $5.44 and a fifty-two week high of $8.06. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.78. The stock’s 50-day moving average is $6.27 and its 200-day moving average is $6.62.
Sprint (NYSE:S) last released its earnings results on Monday, November 4th. The cell phone carrier reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). Sprint had a negative return on equity of 2.63% and a negative net margin of 8.19%. The business had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $8.17 billion. During the same period in the previous year, the company earned $0.05 EPS. Sprint’s quarterly revenue was down 7.6% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Sprint by 44.0% in the second quarter. Renaissance Technologies LLC now owns 69,952,504 shares of the cell phone carrier’s stock valued at $459,588,000 after purchasing an additional 21,383,042 shares during the last quarter. First Trust Advisors LP increased its stake in Sprint by 267.8% in the second quarter. First Trust Advisors LP now owns 13,095,075 shares of the cell phone carrier’s stock valued at $86,035,000 after purchasing an additional 9,534,668 shares during the last quarter. Farallon Capital Management LLC increased its stake in Sprint by 571.4% in the second quarter. Farallon Capital Management LLC now owns 10,675,000 shares of the cell phone carrier’s stock valued at $70,135,000 after purchasing an additional 9,085,000 shares during the last quarter. Paulson & CO. Inc. increased its stake in Sprint by 156.8% in the second quarter. Paulson & CO. Inc. now owns 8,000,000 shares of the cell phone carrier’s stock valued at $52,560,000 after purchasing an additional 4,885,100 shares during the last quarter. Finally, Alpine Associates Management Inc. purchased a new position in Sprint in the second quarter valued at approximately $35,611,000. Hedge funds and other institutional investors own 14.19% of the company’s stock.
In other news, CTO John Saw sold 189,531 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $6.83, for a total transaction of $1,294,496.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.
Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
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