Brokerages forecast that Sprint Corp (NYSE:S) will report $8.08 billion in sales for the current quarter, Zacks Investment Research reports. Fifteen analysts have issued estimates for Sprint’s earnings. The lowest sales estimate is $7.77 billion and the highest is $8.54 billion. Sprint posted sales of $8.54 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The business is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Sprint will report full year sales of $8.08 billion for the current fiscal year, with estimates ranging from $31.98 billion to $33.00 billion. For the next financial year, analysts anticipate that the company will report sales of $32.44 billion per share, with estimates ranging from $31.25 billion to $33.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sprint.
Sprint (NYSE:S) last announced its earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. Sprint’s revenue was down 3.6% compared to the same quarter last year.
A number of research firms have weighed in on S. Bank of America lifted their price target on shares of Sprint from $2.60 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, February 5th. Barclays reiterated a “hold” rating and set a $5.00 price target on shares of Sprint in a research note on Friday, January 19th. TheStreet upgraded shares of Sprint from a “d+” rating to a “c” rating in a research note on Friday, February 2nd. Guggenheim began coverage on shares of Sprint in a research note on Tuesday, March 13th. They issued a “sell” rating and a $4.50 target price on the stock. Finally, Robert W. Baird restated a “hold” rating and issued a $6.00 target price on shares of Sprint in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.02.
In related news, major shareholder Group Corp Softbank purchased 2,102,152 shares of the stock in a transaction dated Thursday, December 28th. The stock was bought at an average cost of $5.92 per share, with a total value of $12,444,739.84. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 50,526,414 shares of company stock valued at $290,822,412 over the last three months. Company insiders own 0.18% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of Sprint by 0.4% in the 4th quarter. Swiss National Bank now owns 2,945,151 shares of the cell phone carrier’s stock valued at $17,347,000 after buying an additional 10,900 shares during the last quarter. CIBC Asset Management Inc raised its stake in Sprint by 7.7% in the 3rd quarter. CIBC Asset Management Inc now owns 157,686 shares of the cell phone carrier’s stock valued at $1,227,000 after acquiring an additional 11,270 shares during the period. Gateway Investment Advisers LLC raised its stake in Sprint by 5.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 233,970 shares of the cell phone carrier’s stock valued at $1,378,000 after acquiring an additional 11,800 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Sprint by 54.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,946 shares of the cell phone carrier’s stock valued at $264,000 after acquiring an additional 11,970 shares during the period. Finally, Commerce Bank bought a new stake in Sprint in the 3rd quarter valued at $100,000. 13.63% of the stock is owned by hedge funds and other institutional investors.
Sprint (NYSE S) traded up $0.10 on Friday, reaching $5.36. 17,116,766 shares of the company’s stock were exchanged, compared to its average volume of 9,593,018. Sprint has a 1 year low of $4.91 and a 1 year high of $9.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. The firm has a market capitalization of $21,456.29, a P/E ratio of 3.10 and a beta of 0.64.
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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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