Shares of Sprint Corporation (NYSE:S) have received a consensus recommendation of “Hold” from the twenty-four analysts that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.22.
Several research analysts have weighed in on S shares. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, August 2nd. UBS AG reissued a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a report on Wednesday, August 2nd. Cowen and Company reissued a “market perform” rating and set a $6.50 price objective on shares of Sprint Corporation in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “sell” rating and set a $5.00 price objective on shares of Sprint Corporation in a report on Friday, July 14th. Finally, ValuEngine raised shares of Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. purchased a new position in shares of Sprint Corporation in the second quarter worth approximately $100,000. Financial Counselors Inc. increased its position in shares of 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 acquiring an additional 201 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Sprint Corporation in the second quarter worth approximately $108,000. Advisors Asset Management Inc. increased its position in shares of Sprint Corporation by 60.4% in the first quarter. Advisors Asset Management Inc. now owns 14,491 shares of the cell phone carrier’s stock worth $126,000 after acquiring an additional 5,459 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Sprint Corporation by 17.0% in the second quarter. Stratos Wealth Partners LTD. now owns 15,188 shares of the cell phone carrier’s stock worth $125,000 after acquiring an additional 2,210 shares in the last quarter. 13.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sprint Corporation (S) traded up 3.8410% during trading on Friday, hitting $7.9023. 9,097,360 shares of the company were exchanged. The company’s 50-day moving average price is $8.31 and its 200 day moving average price is $8.36. The stock’s market cap is $31.58 billion. Sprint Corporation has a 12 month low of $5.83 and a 12 month high of $9.65.
Sprint Corporation (NYSE:S) last released its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the Zacks’ 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 business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. On average, equities analysts predict that Sprint Corporation will post ($0.83) earnings per share for the current fiscal year.
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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