Sprint (S) Upgraded at Macquarie

Macquarie upgraded shares of Sprint (NYSE:S) from an underperform rating to a neutral rating in a report issued on Wednesday morning, MarketBeat reports. They currently have $5.00 target price on the cell phone carrier’s stock, down from their prior target price of $6.00.

S has been the subject of a number of other reports. ValuEngine raised shares of Sprint from a strong sell rating to a sell rating in a report on Wednesday, April 11th. Guggenheim started coverage on shares of Sprint in a report on Tuesday, March 13th. They set a sell rating and a $4.50 price objective for the company. Citigroup reaffirmed a neutral rating and set a $6.50 price objective (down from $7.50) on shares of Sprint in a report on Thursday, February 8th. TheStreet raised shares of Sprint from a d+ rating to a c rating in a report on Friday, February 2nd. Finally, Bank of America lifted their price objective on shares of Sprint from $2.60 to $3.00 and gave the stock an underperform rating in a report on Monday, February 5th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $5.84.

S opened at $6.00 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. Sprint has a one year low of $4.81 and a one year high of $9.22.

Sprint (NYSE:S) last released its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) EPS. research analysts expect that Sprint will post -0.01 EPS for the current year.

A number of institutional investors have recently bought and sold shares of S. Macquarie Group Ltd. lifted its stake in Sprint by 518.9% in the third quarter. Macquarie Group Ltd. now owns 29,832 shares of the cell phone carrier’s stock worth $232,000 after purchasing an additional 25,012 shares during the last quarter. Schwab Charles Investment Management Inc. lifted 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 worth $10,891,000 after purchasing an additional 251,351 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Sprint by 39.4% during 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. Gateway Investment Advisers LLC raised its stake in shares of Sprint by 5.3% during the fourth 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 last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Sprint during the fourth quarter valued at about $292,000. 13.64% of the stock is owned by institutional investors and hedge funds.

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About Sprint

Sprint Corporation, through its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.

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