Sprint Corp (NYSE:S) – KeyCorp reduced their Q3 2018 EPS estimates for shares of Sprint in a research note issued on Monday, according to Zacks Investment Research. KeyCorp analyst B. Nispel now expects that the cell phone carrier will earn ($0.12) per share for the quarter, down from their prior estimate of ($0.09). KeyCorp has a “Underweight” rating and a $5.00 price objective 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.
A number of other brokerages have also commented on S. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a report on Tuesday, October 10th. BTIG Research upped their price objective on Sprint from $3.85 to $4.00 and gave the company a “sell” rating in a report on Wednesday, October 18th. Deutsche Bank decreased their price objective on Sprint from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. TheStreet lowered Sprint from a “c-” rating to a “d+” rating in a report on Tuesday, December 19th. Finally, UBS Group reaffirmed a “buy” rating and issued a $7.50 price objective (down from $9.00) on shares of Sprint in a report on Monday, November 6th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.42.
Sprint (NYSE S) traded up $0.03 during mid-day trading on Thursday, hitting $5.37. The company had a trading volume of 10,639,793 shares, compared to its average volume of 18,450,000. 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 firm has a market cap of $21,480.00, a price-to-earnings ratio of -35.80 and a beta of 0.79. Sprint has a 1-year low of $5.10 and a 1-year high of $9.65.
In related news, CFO Tarek Robbiati sold 363,529 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the completion of the sale, the chief financial officer now directly owns 1,901,974 shares in the company, valued at approximately $11,411,844. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Group Corp Softbank acquired 6,149,090 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were acquired at an average price of $5.68 per share, with a total value of $34,926,831.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 72,408,783 shares of company stock valued at $421,783,446 and have sold 913,236 shares valued at $5,377,413. Corporate insiders own 0.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of Sprint by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock worth $27,973,000 after buying an additional 54,865 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Sprint by 3.9% during the 3rd quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock worth $7,423,000 after buying an additional 35,910 shares during the last quarter. Overbrook Management Corp bought a new stake in shares of Sprint during the 2nd quarter worth $3,564,000. Swiss National Bank lifted its position in shares of Sprint by 3.0% during the 2nd quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock worth $23,853,000 after buying an additional 83,900 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Sprint by 39.4% during the 3rd quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock worth $1,797,000 after buying an additional 65,224 shares during the last quarter. Institutional investors and hedge funds own 13.73% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Sprint Corp Expected to Earn Q3 2018 Earnings of ($0.12) Per Share (S)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/01/28/sprint-corp-expected-to-earn-q3-2018-earnings-of-0-12-per-share-s.html.
Sprint Company Profile
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.
Get a free copy of the Zacks research report on Sprint (S)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.