Sprint Corporation (NYSE:S) - Equities researchers at Oppenheimer Holdings lowered their Q4 2018 EPS estimates for Sprint Corporation in a report issued on Wednesday. Oppenheimer Holdings analyst T. Horan now forecasts that the cell phone carrier will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. Oppenheimer Holdings also issued estimates for Sprint Corporation’s FY2019 earnings at $0.05 EPS.
Sprint Corporation (NYSE:S) last released its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share.
A number of other research analysts have also recently issued reports on the company. Macquarie lifted their price objective on Sprint Corporation from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. SunTrust Banks, Inc. started coverage on Sprint Corporation in a report on Tuesday, April 18th. They set a “hold” rating and a $9.00 price objective for the company. Cowen and Company cut their price objective on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, May 4th. TheStreet raised Sprint Corporation from a “d+” rating to a “c+” rating in a report on Wednesday, May 3rd. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.78.
Sprint Corporation (NYSE:S) opened at 8.70 on Friday. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The stock’s 50 day moving average is $8.25 and its 200 day moving average is $8.49. The company’s market cap is $34.74 billion.
Several institutional investors have recently bought and sold shares of S. BlackRock Inc. raised its position in Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock valued at $340,355,000 after buying an additional 38,431,100 shares during the last quarter. Vanguard Group Inc. raised its position in Sprint Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock valued at $326,977,000 after buying an additional 1,823,591 shares during the last quarter. Primecap Management Co. CA raised its position in Sprint Corporation by 0.7% in the first quarter. Primecap Management Co. CA now owns 36,683,700 shares of the cell phone carrier’s stock valued at $318,415,000 after buying an additional 242,400 shares during the last quarter. State Street Corp raised its position in Sprint Corporation by 1.7% in the first quarter. State Street Corp now owns 14,713,069 shares of the cell phone carrier’s stock valued at $127,704,000 after buying an additional 243,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sprint Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,024,710 shares of the cell phone carrier’s stock valued at $60,959,000 after buying an additional 188,345 shares during the last quarter. Institutional investors own 14.33% of the company’s stock.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.
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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