An issue of Sprint Corp (NYSE:S) debt fell 2% as a percentage of its face value during trading on Tuesday. The debt issue has a 6.875% coupon and is set to mature on November 15, 2028. The bonds in the issue are now trading at $98.00 and were trading at $99.75 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
S has been the subject of several research analyst reports. Vetr downgraded Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective for the company. in a research note on Thursday, January 4th. UBS Group reaffirmed a “buy” rating and issued a $7.50 price objective (down from $9.00) on shares of Sprint in a research note on Monday, November 6th. Barclays reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Sprint in a research note on Friday, January 19th. Macquarie reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Sprint in a research note on Thursday, October 26th. Finally, KeyCorp downgraded Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective for the company. in a research note on Monday, November 6th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.11.
Sprint Corp (NYSE S) traded up $0.06 during trading on Tuesday, reaching $5.45. The company’s stock had a trading volume of 12,712,568 shares, compared to its average volume of 18,293,826. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $21,820.00, a P/E ratio of 3.15 and a beta of 0.64. Sprint Corp has a one year low of $4.91 and a one year high of $9.36.
Sprint (NYSE:S) last released its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. Sprint’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.46) earnings per share. research analysts anticipate that Sprint Corp will post 1.76 earnings per share for the current fiscal year.
In other Sprint news, major shareholder Group Corp Softbank acquired 6,149,090 shares of the stock in a transaction dated Tuesday, January 16th. The stock was acquired at an average price of $5.68 per share, with a total value of $34,926,831.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dow Draper sold 292,707 shares of Sprint stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $5.71, for a total value of $1,671,356.97. Following the completion of the sale, the insider now directly owns 1,165,158 shares of the company’s stock, valued at approximately $6,653,052.18. The disclosure for this sale can be found here. In the last three months, insiders have acquired 55,763,951 shares of company stock valued at $321,193,612 and have sold 549,707 shares valued at $3,196,239. Company insiders own 0.18% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Sprint by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock valued at $27,973,000 after purchasing an additional 54,865 shares during the period. State of Wisconsin Investment Board grew its position in shares of Sprint by 3.9% in the third quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock valued at $7,423,000 after purchasing an additional 35,910 shares during the period. Stifel Financial Corp grew its position in shares of Sprint by 39.4% in the third quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock valued at $1,797,000 after purchasing an additional 65,224 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Sprint by 21.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,399,854 shares of the cell phone carrier’s stock valued at $10,891,000 after purchasing an additional 251,351 shares during the period. Finally, Personal Capital Advisors Corp grew its position in shares of Sprint by 76.9% in the third quarter. Personal Capital Advisors Corp now owns 872,562 shares of the cell phone carrier’s stock valued at $6,789,000 after purchasing an additional 379,238 shares during the period. 14.11% of the stock is owned by institutional investors and hedge funds.
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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