Sprint Corp (S) Forecasted to Post Q3 2018 Earnings of ($0.12) Per Share

Sprint Corp (NYSE:S) – Equities research analysts at KeyCorp cut their Q3 2018 earnings estimates for shares of Sprint in a note issued to investors on Monday, according to Zacks Investment Research. KeyCorp analyst B. Nispel now expects that the cell phone carrier will post earnings of ($0.12) per share for the quarter, down from their previous forecast of ($0.09). KeyCorp currently has a “Underweight” rating and a $5.00 target price on the stock. KeyCorp also issued estimates for Sprint’s Q4 2018 earnings at ($0.03) EPS, FY2018 earnings at ($0.11) EPS and FY2019 earnings at ($0.12) EPS.

Several other analysts have also recently commented on the stock. Vetr cut shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 target price for the company. in a research note on Thursday, January 4th. TheStreet cut shares of Sprint from a “c-” rating to a “d+” rating in a research note on Tuesday, December 19th. Deutsche Bank lowered their target price on shares of Sprint to $5.50 and set a “hold” rating for the company in a research note on Monday, December 11th. Jefferies Group lowered their price objective on shares of Sprint from $5.50 to $4.50 and set an “underperform” rating for the company in a research note on Tuesday, November 7th. Finally, Macquarie reissued a “hold” rating and set a $6.50 price objective on shares of Sprint in a research note on Tuesday, November 7th. Seven 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 stock presently has an average rating of “Hold” and an average price target of $6.72.

Sprint (S) traded up $0.01 during mid-day trading on Thursday, reaching $5.69. 18,430,000 shares of the company’s stock traded hands, compared to its average volume of 17,350,000. The stock has a market cap of $22,760.00, a PE ratio of -37.93 and a beta of 0.79. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.03. Sprint has a 12-month low of $5.42 and a 12-month high of $9.65.

Sprint (NYSE:S) last issued its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS.

A number of hedge funds have recently modified their holdings of S. Janus Henderson Group PLC raised its stake in shares of Sprint by 6,509.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after purchasing an additional 7,070,812 shares in the last quarter. Odey Asset Management Group Ltd raised its stake in shares of Sprint by 107.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock valued at $66,706,000 after purchasing an additional 4,204,955 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Sprint by 1,182.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,235,281 shares of the cell phone carrier’s stock valued at $9,609,000 after purchasing an additional 1,138,942 shares in the last quarter. Naya Capital Management UK Ltd. raised its stake in shares of Sprint by 67.1% in the 2nd quarter. Naya Capital Management UK Ltd. now owns 2,423,100 shares of the cell phone carrier’s stock valued at $19,894,000 after purchasing an additional 973,100 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Sprint in the 2nd quarter valued at about $434,000. Hedge funds and other institutional investors own 13.74% of the company’s stock.

In other Sprint news, insider Dow Draper sold 292,707 shares of the business’s 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 transaction, the insider now owns 1,165,158 shares in the company, valued at approximately $6,653,052.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the business’s stock in a transaction on 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 approximately $1,171,924.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 66,259,693 shares of company stock valued at $386,856,614 and have sold 913,236 shares valued at $5,377,413. 0.18% of the stock is currently owned by corporate insiders.

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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.

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