Sprint (S) Bonds Trading 1.6% Higher

An issue of Sprint Corp (NYSE:S) bonds rose 1.6% against their face value during trading on Wednesday. The high-yield debt issue has a 6.875% coupon and will mature on November 15, 2028. The bonds in the issue are now trading at $105.50 and were trading at $103.75 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

S has been the subject of a number of analyst reports. Zacks Investment Research lowered Sprint from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Deutsche Bank dropped their price objective on Sprint from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. KeyCorp reissued a “hold” rating on shares of Sprint in a research note on Wednesday, October 11th. ValuEngine lowered Sprint from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Macquarie reissued a “hold” rating and set a $8.00 price objective on shares of Sprint in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.52.

Shares of Sprint Corp (S) traded down $0.15 during trading on Friday, reaching $5.34. The company’s stock had a trading volume of 27,041,900 shares, compared to its average volume of 19,153,934. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. The stock has a market capitalization of $21,540.00, a price-to-earnings ratio of -35.60 and a beta of 0.79. Sprint Corp has a fifty-two week low of $5.24 and a fifty-two week high of $9.65.

Sprint (NYSE:S) last announced its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. equities analysts expect that Sprint Corp will post -0.01 EPS for the current year.

In other Sprint news, major shareholder Group Corp Softbank acquired 6,484,367 shares of Sprint stock in a transaction that occurred on Tuesday, November 7th. The stock was bought at an average cost of $5.92 per share, for a total transaction of $38,387,452.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jorge Enrique Gracia sold 112,959 shares of Sprint stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $6.18, for a total value of $698,086.62. Following the completion of the sale, the insider now owns 858,383 shares of the company’s stock, valued at $5,304,806.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 72,408,783 shares of company stock valued at $421,783,446 and have sold 913,236 shares valued at $5,377,413. 0.18% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Commerce Bank purchased a new position in shares of Sprint during the 3rd quarter valued at about $100,000. Crossmark Global Holdings Inc. purchased a new position in shares of Sprint during the 3rd quarter valued at about $141,000. Americafirst Capital Management LLC purchased a new position in shares of Sprint during the 3rd quarter valued at about $156,000. Capital Bank & Trust Co lifted its position in shares of Sprint by 10,821.7% during the 3rd quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock valued at $168,000 after buying an additional 21,427 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Sprint by 52.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,976 shares of the cell phone carrier’s stock valued at $180,000 after buying an additional 7,585 shares in the last quarter. Institutional investors and hedge funds 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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