Sprint Corp. (S) Hits New 12-Month High at $6.43
Sprint Corp. (NYSE:S) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $6.43 and last traded at $6.40, with a volume of 12,974,334 shares traded. The stock had previously closed at $6.20.
A number of equities research analysts have commented on S shares. Macquarie reissued a “positive” rating and set a $4.00 price objective on shares of Sprint Corp. in a report on Thursday, June 2nd. Nomura raised their target price on shares of Sprint Corp. to $6.00 in a research note on Tuesday, July 26th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $6.00 target price (up previously from $5.00) on shares of Sprint Corp. in a research note on Tuesday, July 26th. Morgan Stanley raised their target price on shares of Sprint Corp. from $3.00 to $4.40 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Sprint Corp. in a research note on Sunday, August 21st. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Sprint Corp. presently has an average rating of “Hold” and a consensus price target of $4.40.
The firm has a 50-day moving average price of $5.87 and a 200 day moving average price of $4.25. The stock’s market cap is $25.54 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.00. The business 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% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.46) earnings per share. Analysts anticipate that Sprint Corp. will post ($0.83) EPS for the current year.
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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