Brokerages Set Sprint Corp (S) PT at $5.53

Sprint Corp (NYSE:S) has been given a consensus recommendation of “Hold” by the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.53.

Several analysts have commented on S shares. ValuEngine upgraded shares of Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut shares of Sprint from a “buy” rating to a “hold” rating in a research report on Monday, October 8th.

Shares of Sprint stock traded down $0.06 on Friday, hitting $6.15. 33,704,547 shares of the company’s stock traded hands, compared to its average volume of 13,673,084. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 87.86 and a beta of 0.80. Sprint has a one year low of $4.81 and a one year high of $6.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.05 and a current ratio of 1.12.

Sprint (NYSE:S) last issued its earnings results on Wednesday, October 31st. The cell phone carrier reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Sprint had a net margin of 23.12% and a return on equity of 1.36%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, research analysts forecast that Sprint will post 0.02 EPS for the current fiscal year.

In related news, insider Jorge Enrique Gracia sold 129,652 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Saw sold 260,095 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $6.14, for a total transaction of $1,596,983.30. Following the completion of the transaction, the insider now directly owns 1,333,982 shares of the company’s stock, valued at $8,190,649.48. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Odey Asset Management Group Ltd boosted its stake in Sprint by 24.6% in the 2nd quarter. Odey Asset Management Group Ltd now owns 17,061,000 shares of the cell phone carrier’s stock worth $92,812,000 after purchasing an additional 3,366,000 shares during the period. Renaissance Technologies LLC boosted its stake in Sprint by 2,277.5% in the 3rd quarter. Renaissance Technologies LLC now owns 11,366,643 shares of the cell phone carrier’s stock worth $74,338,000 after purchasing an additional 10,888,543 shares during the period. Alpine Associates Management Inc. boosted its stake in Sprint by 298.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 7,206,000 shares of the cell phone carrier’s stock worth $47,126,000 after purchasing an additional 5,399,600 shares during the period. Scout Investments Inc. boosted its stake in Sprint by 1.5% in the 3rd quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock worth $40,342,000 after purchasing an additional 90,940 shares during the period. Finally, Northern Trust Corp boosted its stake in Sprint by 2.0% in the 2nd quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock worth $30,118,000 after purchasing an additional 107,441 shares during the period. 13.05% of the stock is owned by hedge funds and other institutional investors.

Sprint Company Profile

Sprint Corporation, together with 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 United States Virgin Islands. It operates in two segments, Wireless and Wireline.

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Analyst Recommendations for Sprint (NYSE:S)

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