Sprint Corp. (NYSE:S) shares rose 2.5% during mid-day trading on Thursday . The stock traded as high as $4.59 and last traded at $4.56, with a volume of 6,898,024 shares traded. The stock had previously closed at $4.45.

A number of research firms recently commented on S. Pacific Crest cut shares of Sprint Corp. from a “sector weight” rating to an “underweight” rating and lowered their price objective for the company from $3.49 to $2.18 in a research report on Wednesday, April 13th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Sprint Corp. in a research report on Tuesday, June 28th. Sanford C. Bernstein lowered their price objective on shares of Sprint Corp. from $4.25 to $3.75 and set a “market perform” rating for the company in a research report on Wednesday, March 23rd. FBR & Co restated a “buy” rating and issued a $6.00 price objective on shares of Sprint Corp. in a research report on Tuesday, June 7th. Finally, Zacks Investment Research cut shares of Sprint Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.46.

The company’s market cap is $18.59 billion. The firm’s 50 day moving average price is $3.98 and its 200 day moving average price is $3.51.

Sprint Corp. (NYSE:S) last released its earnings results on Tuesday, May 3rd. The cell phone carrier reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.01. The business had revenue of $8.07 billion for the quarter, compared to analysts’ expectations of $8.69 billion. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Equities research analysts expect that Sprint Corp. will post ($0.83) EPS for the current fiscal year.

A number of hedge funds and institutional investors recently added to or reduced their stakes in S. State of New Jersey Common Pension Fund D bought a new position in Sprint Corp. during the fourth quarter worth $17,376,000. Morgan Stanley boosted its stake in shares of Sprint Corp. by 290.0% in the fourth quarter. Morgan Stanley now owns 7,066,966 shares of the cell phone carrier’s stock worth $25,583,000 after buying an additional 5,255,020 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Sprint Corp. by 8.6% in the fourth quarter. Rhumbline Advisers now owns 512,015 shares of the cell phone carrier’s stock worth $1,853,000 after buying an additional 40,390 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Sprint Corp. by 356,228.0% in the fourth quarter. Sei Investments Co. now owns 1,108,180 shares of the cell phone carrier’s stock worth $4,012,000 after buying an additional 1,107,869 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Sprint Corp. by 1.4% in the fourth quarter. Swiss National Bank now owns 1,432,151 shares of the cell phone carrier’s stock worth $5,184,000 after buying an additional 19,500 shares during the last quarter.

Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.

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