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.
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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.
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