Sprint Corporation (S) Price Target Cut to $4.50 by Analysts at Jefferies Group LLC

Sprint Corporation (NYSE:S) had its target price decreased by equities researchers at Jefferies Group LLC from $5.50 to $4.50 in a note issued to investors on Tuesday, November 7th. The firm presently has an “underperform” rating on the cell phone carrier’s stock. Jefferies Group LLC’s target price would suggest a potential downside of 26.83% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint in a research report on Thursday, October 12th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint in a research note on Wednesday, August 2nd. Cowen Inc reiterated a “hold” rating and issued a $6.50 price objective on shares of Sprint in a research note on Wednesday, July 19th. BidaskClub lowered Sprint from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, ValuEngine lowered Sprint from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.19.

Shares of Sprint (NYSE:S) remained flat at $$6.15 during mid-day trading on Tuesday. 4,040,000 shares of the company’s stock traded hands, compared to its average volume of 19,612,094. Sprint has a 1-year low of $5.62 and a 1-year 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 (NYSE:S) last released its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. analysts expect that Sprint will post -0.03 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently made changes to their positions in S. Wetherby Asset Management Inc. acquired a new position in shares of Sprint in the 2nd quarter worth approximately $100,000. Financial Counselors Inc. lifted its holdings in Sprint by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after buying an additional 201 shares in the last quarter. Commerce Bank acquired a new position in Sprint during the 3rd quarter worth $100,000. Summit Securities Group LLC acquired a new position in Sprint during the 2nd quarter worth $108,000. Finally, Advisors Asset Management Inc. lifted its holdings in Sprint by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after buying an additional 318 shares in the last quarter. 13.57% of the stock is currently owned by institutional investors and hedge funds.

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About Sprint

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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