Sprint Corporation (NYSE:S) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
S has been the subject of several other research reports. Macquarie increased their price objective on shares of Sprint Corporation from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Cowen and Company dropped their price objective on shares of Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a research note on Thursday, May 4th. Barclays PLC reissued a “neutral” rating and issued a $8.00 price objective on shares of Sprint Corporation in a research note on Wednesday. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.89.
Sprint Corporation (NYSE:S) traded up 3.11% on Friday, hitting $8.28. 4,596,225 shares of the stock were exchanged. Sprint Corporation has a 1-year low of $5.83 and a 1-year high of $9.65. The company’s market capitalization is $33.09 billion. The company has a 50-day moving average price of $8.32 and a 200 day moving average price of $8.48.
Sprint Corporation (NYSE:S) last issued its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
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In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Sprint Corporation by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock worth $359,000 after buying an additional 1,898 shares during the last quarter. Amalgamated Bank boosted its stake in Sprint Corporation by 48.7% in the second quarter. Amalgamated Bank now owns 61,168 shares of the cell phone carrier’s stock worth $502,000 after buying an additional 20,029 shares during the last quarter. Overbrook Management Corp bought a new stake in Sprint Corporation during the second quarter worth approximately $3,564,000. Financial Counselors Inc. boosted its stake in Sprint Corporation by 1.7% in the second 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 during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Sprint Corporation during the second quarter worth approximately $335,000. Institutional investors and hedge funds own 14.35% of the company’s stock.
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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