Sprint Corporation (NYSE:S) had its price target trimmed by Jefferies Group LLC from $5.50 to $4.50 in a research note issued to investors on Tuesday. The brokerage currently has an underperform rating on the cell phone carrier’s stock.
Several other equities research analysts have also issued reports on the company. Macquarie reissued a hold rating and set a $6.50 price target on shares of Sprint Corporation in a research report on Tuesday. Royal Bank Of Canada reissued a hold rating and set a $8.00 price target on shares of Sprint Corporation in a research report on Tuesday. UBS AG reissued a buy rating and set a $7.50 price target (down from $9.00) on shares of Sprint Corporation in a research report on Monday, November 6th. KeyCorp downgraded Sprint Corporation from a sector weight rating to an underweight rating and set a $5.50 price objective for the company. in a research note on Monday, November 6th. Finally, Vetr downgraded Sprint Corporation from a strong-buy rating to a buy rating and set a $7.10 price objective for the company. in a research note on Thursday, November 2nd. Eight investment analysts have rated the stock with a sell rating, twelve have assigned 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 target price of $9.65.
Shares of Sprint Corporation (NYSE:S) traded up $0.02 on Tuesday, hitting $6.19. The company’s stock had a trading volume of 13,845,682 shares, compared to its average volume of 20,775,172. Sprint Corporation has a one year low of $5.62 and a one 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 Corporation (NYSE:S) last announced its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $8.05 billion. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. Sprint Corporation’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) EPS. sell-side analysts expect that Sprint Corporation will post -0.02 earnings per share for the current fiscal year.
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In other news, major shareholder Group Corp Softbank bought 6,484,367 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average price of $5.92 per share, with a total value of $38,387,452.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Wetherby Asset Management Inc. bought a new position in Sprint Corporation during the second quarter valued at about $100,000. Financial Counselors Inc. boosted its stake in Sprint Corporation by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after buying an additional 201 shares in the last quarter. Commerce Bank bought a new position in Sprint Corporation during the third quarter valued at about $100,000. Summit Securities Group LLC bought a new position in Sprint Corporation during the second quarter valued at about $108,000. Finally, Advisors Asset Management Inc. boosted its stake in Sprint Corporation by 2.2% during 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. 13.87% of the stock is owned by institutional investors and hedge funds.
Sprint Corporation Company Profile
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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