Sprint Corporation (S) Price Target Lowered to $4.50 at Jefferies Group LLC

Sprint Corporation (NYSE:S) had its price target dropped by equities research analysts at Jefferies Group LLC from $5.50 to $4.50 in a note issued to investors on Tuesday, November 7th. The firm currently has an “underperform” rating on the cell phone carrier’s stock. Jefferies Group LLC’s price objective points to a potential downside of 27.77% from the company’s previous close.

S has been the subject of several other reports. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen and Company reiterated a “market perform” rating and issued a $6.50 price target on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Barclays PLC reiterated a “neutral” rating and issued a $8.00 price target on shares of Sprint Corporation in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Sprint Corporation in a research report on Wednesday, September 20th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Sprint Corporation currently has an average rating of “Hold” and a consensus price target of $7.19.

Sprint Corporation (NYSE:S) traded down $0.02 during midday trading on Tuesday, hitting $6.23. The stock had a trading volume of 8,537,900 shares, compared to its average volume of 15,329,672. Sprint Corporation has a 52 week low of $5.62 and a 52 week high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80.

Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. research analysts anticipate that Sprint Corporation will post -0.02 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was posted by BBNS and is the sole property of of BBNS. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://baseballnewssource.com/markets/jefferies-group-llc-cuts-sprint-corporation-s-price-target-to-4-50/1764307.html.

In other news, CFO Tarek Robbiati sold 363,529 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the sale, the chief financial officer now owns 1,901,974 shares of the company’s stock, valued at approximately $11,411,844. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Group Corp Softbank acquired 6,484,367 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $5.92 per share, with a total value of $38,387,452.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 16,644,832 shares of company stock worth $100,589,834. Insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wetherby Asset Management Inc. bought a new position in shares of Sprint Corporation during the second quarter valued at approximately $100,000. Financial Counselors Inc. raised its holdings in shares of Sprint Corporation by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares during the last quarter. Commerce Bank purchased a new position in shares of Sprint Corporation during the third quarter worth $100,000. Summit Securities Group LLC purchased a new position in Sprint Corporation in the second quarter valued at $108,000. Finally, Advisors Asset Management Inc. increased its holdings in Sprint Corporation by 2.2% in the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 13.57% of the company’s stock.

About Sprint Corporation

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 Corporation (NYSE:S)

Receive News & Ratings for Sprint Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.