Equities researchers at Guggenheim assumed coverage on shares of Sprint (NYSE:S) in a research note issued on Tuesday, The Fly reports. The firm set a “sell” rating on the cell phone carrier’s stock.
S has been the topic of a number of other reports. TheStreet upgraded Sprint from a “d+” rating to a “c” rating in a report on Friday, February 2nd. Citigroup restated a “neutral” rating and set a $6.50 price target (down from $7.50) on shares of Sprint in a report on Thursday, February 8th. KeyCorp set a $5.00 price target on Sprint and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Robert W. Baird restated a “hold” rating and set a $6.00 price target on shares of Sprint in a report on Friday, February 2nd. Finally, Cowen restated a “hold” rating on shares of Sprint in a report on Monday, February 5th. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.11.
Shares of Sprint (S) opened at $5.32 on Tuesday. The firm has a market cap of $21,216.10, a P/E ratio of 3.08 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Sprint has a 52-week low of $4.91 and a 52-week high of $9.22.
Sprint (NYSE:S) last posted its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.19 billion. Sprint had a negative return on equity of 0.94% and a net margin of 21.41%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) EPS. equities research analysts forecast that Sprint will post 1.76 earnings per share for the current fiscal year.
In related news, major shareholder Group Corp Softbank purchased 5,039,477 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was acquired at an average cost of $5.60 per share, with a total value of $28,221,071.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $5.74, for a total value of $826,795.34. Following the completion of the sale, the vice president now directly owns 204,168 shares of the company’s stock, valued at $1,171,924.32. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 53,757,531 shares of company stock worth $309,175,156. 0.18% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Sprint by 19.8% in the 4th quarter. BlackRock Inc. now owns 43,490,226 shares of the cell phone carrier’s stock valued at $256,158,000 after buying an additional 7,188,919 shares during the last quarter. Geode Capital Management LLC raised its position in Sprint by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,706,246 shares of the cell phone carrier’s stock valued at $27,698,000 after buying an additional 69,950 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Sprint in the 4th quarter valued at $26,207,000. Bank of New York Mellon Corp raised its position in Sprint by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,682,775 shares of the cell phone carrier’s stock valued at $21,693,000 after buying an additional 87,274 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Sprint by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 3,568,008 shares of the cell phone carrier’s stock valued at $27,759,000 after purchasing an additional 75,465 shares during the last quarter. 13.63% of the stock is owned by institutional investors and hedge funds.
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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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