Sprint (S) Lowered to Buy at Vetr

Vetr cut shares of Sprint (NYSE:S) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday, January 4th. They currently have $5.90 price target on the cell phone carrier’s stock.

Several other equities analysts also recently weighed in on the stock. KeyCorp set a $5.00 price target on shares of Sprint and gave the company an underweight rating in a report on Tuesday, January 2nd. TheStreet downgraded shares of Sprint from a c- rating to a d+ rating in a report on Tuesday, December 19th. Deutsche Bank lowered their target price on shares of Sprint to $5.50 and set a hold rating on the stock in a report on Monday, December 11th. Jefferies Group lowered their target price on shares of Sprint from $5.50 to $4.50 and set an underperform rating on the stock in a report on Tuesday, November 7th. Finally, Macquarie reissued a hold rating and issued a $6.50 target price on shares of Sprint in a report on Tuesday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $6.72.

Shares of Sprint (NYSE S) traded up $0.07 during midday trading on Thursday, reaching $5.69. 17,627,248 shares of the company traded hands, compared to its average volume of 17,060,000. 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 company has a market capitalization of $22,760.00, a price-to-earnings ratio of -37.93 and a beta of 0.79. Sprint has a 12 month low of $5.42 and a 12 month high of $9.65.

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

In related news, major shareholder Group Corp Softbank purchased 4,322,990 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $6.21 per share, for a total transaction of $26,845,767.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total transaction of $826,795.34. Following the completion of the transaction, the vice president now owns 204,168 shares in the company, valued at $1,171,924.32. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 60,020,155 shares of company stock worth $351,291,248 and have sold 913,236 shares worth $5,377,413. Insiders own 0.18% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in S. Financial Counselors Inc. lifted its position in shares of Sprint by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after buying an additional 201 shares during the last quarter. Commerce Bank purchased a new stake in shares of Sprint during the third quarter valued at about $100,000. Advisors Asset Management Inc. lifted its position in shares of Sprint by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after buying an additional 318 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Sprint during the third quarter valued at about $141,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Sprint during the third quarter valued at about $156,000. 13.74% of the stock is owned by institutional investors.

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About Sprint

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.

To view Vetr’s full report, visit Vetr’s official website.

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