Sprint (S) Bonds Trading 1.7% Lower

An issue of Sprint Corp (NYSE:S) bonds fell 1.7% against their face value during trading on Thursday. The debt issue has a 7.625% coupon and is set to mature on March 1, 2026. The bonds in the issue are now trading at $101.47 and were trading at $104.75 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

Several analysts have recently issued reports on the company. ValuEngine cut Sprint from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 4th. Citigroup increased their price target on Sprint from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, April 30th. SunTrust Banks decreased their price target on Sprint to $6.50 and set a “hold” rating on the stock in a report on Tuesday, May 8th. Wells Fargo & Co lowered Sprint from an “outperform” rating to a “market perform” rating in a report on Monday, April 30th. Finally, Macquarie upgraded Sprint from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $6.00 to $5.00 in a report on Wednesday, April 18th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.98.

S stock opened at $5.44 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.23 and a current ratio of 1.32. Sprint Corp has a twelve month low of $4.81 and a twelve month high of $8.92. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 136.75 and a beta of 0.63.

Sprint (NYSE:S) last released its earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. Sprint had a return on equity of 0.69% and a net margin of 22.80%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the firm posted ($0.07) earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. sell-side analysts predict that Sprint Corp will post -0.05 earnings per share for the current fiscal year.

In other news, insider John Saw sold 88,319 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $6.50, for a total transaction of $574,073.50. Following the transaction, the insider now owns 1,149,057 shares of the company’s stock, valued at approximately $7,468,870.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. grew its position in shares of Sprint by 872.7% during the 4th quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock worth $101,000 after buying an additional 15,692 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in Sprint during the first quarter valued at about $126,000. Delpha Capital Management LLC bought a new stake in Sprint during the fourth quarter valued at about $131,000. Aspiriant LLC bought a new stake in Sprint during the first quarter valued at about $151,000. Finally, Two Sigma Securities LLC bought a new stake in Sprint during the fourth quarter valued at about $157,000. 12.70% of the stock is currently owned by institutional investors and hedge funds.

Sprint Company Profile

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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