Sprint Corp. (NYSE:S)’s share price traded down 7.5% on Wednesday . The company traded as low as $5.73 and last traded at $5.78, with a volume of 35,070,918 shares traded. The stock had previously closed at $6.25.

A number of brokerages recently weighed in on S. RBC Capital Markets restated a “sector perform” rating and set a $6.00 target price (up previously from $5.00) on shares of Sprint Corp. in a research report on Tuesday. Macquarie restated an “outperform” rating and set a $6.75 target price (up previously from $5.50) on shares of Sprint Corp. in a research report on Wednesday. Citigroup Inc. upped their target price on shares of Sprint Corp. from $4.75 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays PLC upped their target price on shares of Sprint Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Sprint Corp. in a research report on Tuesday. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Sprint Corp. presently has a consensus rating of “Hold” and a consensus target price of $4.20.

The stock has a 50-day moving average of $4.42 and a 200 day moving average of $3.63. The firm’s market cap is $23.00 billion.

Sprint Corp. (NYSE:S) last announced its quarterly earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.00. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $8.69 billion. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. On average, equities analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current year.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its position 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 valued at $25,583,000 after buying an additional 5,255,020 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Sprint Corp. during the fourth quarter valued at $17,376,000. Rhumbline Advisers boosted its position 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 valued at $1,853,000 after buying an additional 40,390 shares during the last quarter. Swiss National Bank boosted its position 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 valued at $5,184,000 after buying an additional 19,500 shares during the last quarter. Finally, Affinity Investment Advisors LLC boosted its position in shares of Sprint Corp. by 0.8% in the fourth quarter. Affinity Investment Advisors LLC now owns 507,080 shares of the cell phone carrier’s stock valued at $1,836,000 after buying an additional 4,050 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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