Sprint (S) Price Target Lowered to $5.50 at Deutsche Bank

Sprint (NYSE:S) had its price target lowered by Deutsche Bank to $5.50 in a research note published on Monday. The brokerage currently has a hold rating on the cell phone carrier’s stock.

Several other research firms also recently commented on S. Moffett Nathanson restated a sell rating on shares of Sprint in a research note on Thursday, October 12th. Oppenheimer restated a hold rating on shares of Sprint in a research note on Wednesday, September 20th. KeyCorp reiterated a hold rating on shares of Sprint in a research note on Wednesday, October 11th. Zacks Investment Research downgraded shares of Sprint from a buy rating to a hold rating in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded shares of Sprint from a hold rating to a sell rating in a research note on Monday, October 16th. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sprint has a consensus rating of Hold and a consensus price target of $7.10.

Shares of Sprint (NYSE:S) remained flat at $$5.44 during midday trading on Monday. 10,230,700 shares of the company’s stock were exchanged, compared to its average volume of 15,147,826. Sprint has a one year low of $5.42 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 (NYSE:S) last issued its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $7.93 billion during the quarter, compared to analyst estimates of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. equities research analysts forecast that Sprint will post -0.03 earnings per share for the current fiscal year.

In related news, major shareholder Group Corp Softbank bought 1,045,040 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of $5.99 per share, for a total transaction of $6,259,789.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dow Draper sold 292,707 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $5.71, for a total transaction of $1,671,356.97. Following the transaction, the insider now owns 1,165,158 shares of the company’s stock, valued at $6,653,052.18. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 18,651,252 shares of company stock valued at $112,608,289 and sold 769,195 shares valued at $4,550,618. 0.18% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. increased its holdings in Sprint by 1.7% in the 2nd 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 during the period. Advisors Asset Management Inc. raised its position in shares of Sprint by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after acquiring an additional 318 shares during the period. Pacer Advisors Inc. raised its position in shares of Sprint by 1.9% in the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after acquiring an additional 500 shares during the period. Advisory Services Network LLC raised its position in shares of Sprint by 1.2% in the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after acquiring an additional 802 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Sprint by 4.6% during the 2nd 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 period. Hedge funds and other institutional investors own 13.74% of the company’s stock.

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Sprint 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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