Sprint Corp. (S) Hits New 1-Year High at $6.35
Sprint Corp. (NYSE:S) reached a new 52-week high on Friday . The stock traded as high as $6.35 and last traded at $6.16, with a volume of 12,513,682 shares traded. The stock had previously closed at $6.22.
A number of equities research analysts recently commented on the stock. FBR & Co restated a “buy” rating and set a $6.00 price objective on shares of Sprint Corp. in a report on Wednesday, May 4th. Pacific Crest restated a “sell” rating on shares of Sprint Corp. in a report on Sunday, July 17th. Moffett Nathanson restated a “sell” rating on shares of Sprint Corp. in a report on Tuesday, May 3rd. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Sprint Corp. in a report on Tuesday, July 26th. Finally, Royal Bank Of Canada raised their price objective on shares of Sprint Corp. from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 26th. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.22.
The stock has a 50-day moving average price of $4.87 and a 200-day moving average price of $3.76. The company’s market capitalization is $24.53 billion.
Sprint Corp. (NYSE:S) last posted its quarterly earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.00. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.69 billion. Sprint Corp.’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) EPS. On average, equities analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current year.
A number of institutional investors have modified their holdings of S. Affinity Investment Advisors LLC raised 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 worth $1,836,000 after buying an additional 4,050 shares in the last quarter. Rhumbline Advisers raised 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 worth $1,853,000 after buying an additional 40,390 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Sprint Corp. during the fourth quarter worth $17,376,000. Finally, Morgan Stanley raised 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 worth $25,583,000 after buying an additional 5,255,020 shares in 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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