Sprint Corp (NYSE:S) – Research analysts at Oppenheimer lifted their Q3 2020 earnings per share (EPS) 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.
Other analysts have also issued research reports about the stock. Barclays reissued a “hold” rating and issued a $6.00 price target on shares of Sprint in a research report on Tuesday, October 15th. UBS Group raised shares of Sprint from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.50 to $10.00 in a research report on Monday, July 29th. Finally, ValuEngine raised shares of Sprint from a “hold” rating to a “buy” rating in a report on Friday. 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 stock. The company currently has a consensus rating of “Hold” and an average price target of $6.43.
Sprint (NYSE:S) last posted its quarterly earnings results on Monday, November 4th. The cell phone carrier reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Sprint had a negative net margin of 8.19% and a negative return on equity of 2.63%. The business had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same period last year, the firm earned $0.05 EPS. The business’s revenue for the quarter was down 7.6% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the stock. Rational Advisors LLC grew its stake in Sprint by 153.3% in the 3rd quarter. Rational Advisors LLC now owns 12,720 shares of the cell phone carrier’s stock worth $78,000 after buying an additional 7,698 shares in the last quarter. SG Americas Securities LLC grew its stake in Sprint by 0.7% in the 3rd quarter. SG Americas Securities LLC now owns 496,207 shares of the cell phone carrier’s stock worth $3,062,000 after buying an additional 3,656 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Sprint by 7.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,639 shares of the cell phone carrier’s stock worth $214,000 after buying an additional 2,400 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Sprint by 116.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 107,613 shares of the cell phone carrier’s stock worth $664,000 after buying an additional 57,969 shares in the last quarter. Finally, ARP Americas LP grew its stake in Sprint by 52.7% in the 3rd quarter. ARP Americas LP now owns 3,336,822 shares of the cell phone carrier’s stock worth $20,588,000 after buying an additional 1,151,273 shares in the last quarter. 14.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, CTO John Saw sold 189,531 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.83, for a total transaction of $1,294,496.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.
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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