Sprint Corporation (NYSE:S) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report released on Wednesday, October 18th, MarketBeat.com reports.
Several other research analysts have also weighed in on the company. BTIG Research lifted their price objective on Sprint Corporation from $3.85 to $4.00 and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Zacks Investment Research downgraded Sprint Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. KeyCorp restated a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG reduced their target price on Sprint Corporation from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.26.
Shares of Sprint Corporation (S) traded down 0.14% during trading on Wednesday, reaching $6.99. The company’s stock had a trading volume of 9,697,079 shares. The company’s market cap is $27.94 billion. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The firm’s 50-day moving average is $7.51 and its 200 day moving average is $8.10.
Sprint Corporation (NYSE:S) last announced its quarterly earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The company had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the company earned ($0.04) EPS. Sprint Corporation’s revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Sprint Corporation (NYSE:S) Stock Rating Lowered by Macquarie” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/28/sprint-corporation-s-lowered-to-neutral-at-macquarie.html.
Hedge funds have recently added to or reduced their stakes in the stock. Parametrica Management Ltd grew its holdings in Sprint Corporation by 100.0% in the third quarter. Parametrica Management Ltd now owns 51,791 shares of the cell phone carrier’s stock worth $403,000 after purchasing an additional 25,900 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Sprint Corporation during the third quarter valued at approximately $141,000. Highstreet Asset Management Inc. boosted its holdings in Sprint Corporation by 31.3% in the third quarter. Highstreet Asset Management Inc. now owns 104,665 shares of the cell phone carrier’s stock worth $814,000 after purchasing an additional 24,947 shares during the last quarter. Korea Investment CORP purchased a new stake in Sprint Corporation in the third quarter worth approximately $559,000. Finally, Aperio Group LLC boosted its holdings in Sprint Corporation by 6.6% in the third quarter. Aperio Group LLC now owns 248,354 shares of the cell phone carrier’s stock worth $1,932,000 after purchasing an additional 15,368 shares during the last quarter. 13.95% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Sprint Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corporation and related companies with MarketBeat.com's FREE daily email newsletter.