Sprint Corp (S) Expected to Post Quarterly Sales of $8.13 Billion

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Equities research analysts expect that Sprint Corp (NYSE:S) will announce sales of $8.13 billion for the current quarter, according to Zacks Investment Research. Thirteen analysts have made estimates for Sprint’s earnings. The lowest sales estimate is $7.90 billion and the highest is $8.40 billion. Sprint reported sales of $8.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.6%. The company is scheduled to report its next earnings report on Wednesday, May 1st.

On average, analysts expect that Sprint will report full-year sales of $33.30 billion for the current year, with estimates ranging from $33.06 billion to $33.55 billion. For the next year, analysts forecast that the firm will report sales of $33.24 billion, with estimates ranging from $32.57 billion to $34.01 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Sprint.

Sprint (NYSE:S) last announced its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Sprint had a return on equity of 1.08% and a net margin of 0.90%. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share.

A number of equities analysts have recently commented on S shares. ValuEngine lowered shares of Sprint from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Cowen reaffirmed a “hold” rating and set a $4.50 target price on shares of Sprint in a report on Monday, February 4th. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, November 27th. Finally, William Blair reaffirmed an “underperform” rating on shares of Sprint in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Sprint presently has a consensus rating of “Hold” and a consensus target price of $5.83.

S traded down $0.04 on Thursday, hitting $6.25. 6,830,291 shares of the stock traded hands, compared to its average volume of 13,477,357. Sprint has a 52 week low of $4.81 and a 52 week high of $6.62. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 89.29, a P/E/G ratio of 7.26 and a beta of 0.51.

A number of hedge funds have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Sprint by 11.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 274,877 shares of the cell phone carrier’s stock valued at $1,600,000 after acquiring an additional 27,517 shares during the last quarter. IndexIQ Advisors LLC increased its stake in Sprint by 8.0% during the third quarter. IndexIQ Advisors LLC now owns 1,912,738 shares of the cell phone carrier’s stock worth $12,509,000 after acquiring an additional 141,307 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Sprint by 15.4% during the third quarter. Panagora Asset Management Inc. now owns 508,499 shares of the cell phone carrier’s stock worth $3,326,000 after acquiring an additional 67,915 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Sprint during the third quarter worth about $1,116,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sprint during the third quarter worth about $1,277,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Sprint

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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