Wall Street analysts expect Sprint Corp (NYSE:S) to announce sales of $8.09 billion for the current fiscal quarter, according to Zacks Investment Research. Fifteen analysts have made estimates for Sprint’s earnings, with the lowest sales estimate coming in at $7.82 billion and the highest estimate coming in at $8.54 billion. Sprint reported sales of $8.54 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The firm is scheduled to announce its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Sprint will report full year sales of $8.09 billion for the current fiscal year, with estimates ranging from $31.82 billion to $33.00 billion. For the next financial year, analysts anticipate that the company will post sales of $32.55 billion per share, with estimates ranging from $31.45 billion to $33.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sprint.
Sprint (NYSE:S) last posted its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.19 billion. During the same quarter in the prior year, the business earned ($0.46) earnings per share. Sprint’s revenue for the quarter was down 3.6% on a year-over-year basis.
Several research firms recently commented on S. Citigroup reiterated a “neutral” rating and issued a $6.50 price objective (down previously from $7.50) on shares of Sprint in a research note on Thursday, February 8th. TheStreet upgraded Sprint from a “d+” rating to a “c” rating in a research report on Friday, February 2nd. Bank of America increased their target price on Sprint from $2.60 to $3.00 and gave the stock an “underperform” rating in a research report on Monday, February 5th. Cowen restated a “hold” rating on shares of Sprint in a research report on Monday, February 5th. Finally, Robert W. Baird restated a “hold” rating and set a $6.00 target price on shares of Sprint in a research report on Friday, February 2nd. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.11.
Sprint (S) traded down $0.10 during trading on Monday, reaching $5.39. The company had a trading volume of 11,543,979 shares, compared to its average volume of 18,270,000. Sprint has a fifty-two week low of $4.91 and a fifty-two week high of $9.44. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $21,580.00, a P/E ratio of 3.12 and a beta of 0.64.
In other news, insider Jorge Enrique Gracia sold 112,959 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $6.18, for a total value of $698,086.62. Following the transaction, the insider now owns 858,383 shares of the company’s stock, valued at $5,304,806.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Group Corp Softbank purchased 6,149,090 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was purchased at an average cost of $5.68 per share, for a total transaction of $34,926,831.20. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 55,763,951 shares of company stock worth $321,193,612 and sold 549,707 shares worth $3,196,239. Corporate insiders own 0.18% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Sprint by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock valued at $27,973,000 after acquiring an additional 54,865 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Sprint by 3.9% in the third quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock valued at $7,423,000 after acquiring an additional 35,910 shares during the last quarter. Stifel Financial Corp increased its stake in Sprint by 39.4% in the third quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock valued at $1,797,000 after acquiring an additional 65,224 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Sprint by 21.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,399,854 shares of the cell phone carrier’s stock valued at $10,891,000 after acquiring an additional 251,351 shares during the last quarter. Finally, FMR LLC increased its stake in Sprint by 3.1% in the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock valued at $31,492,000 after acquiring an additional 115,192 shares during the last quarter. 14.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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