Sprint Corporation (NYSE:S) Stock Rating Lowered by Macquarie

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.

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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.

Analyst Recommendations for Sprint Corporation (NYSE:S)

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