Traders Buy Sprint Corp. (S) on Weakness
Traders bought shares of Sprint Corp. (NYSE:S) on weakness during trading on Wednesday. $67.47 million flowed into the stock on the tick-up and $52.21 million flowed out of the stock on the tick-down, for a money net flow of $15.26 million into the stock. Of all equities tracked, Sprint Corp. had the 19th highest net in-flow for the day. Sprint Corp. traded down ($0.46) for the day and closed at $5.79
Several research analysts recently weighed in on the company. FBR & Co reiterated a “buy” rating and set a $6.00 price target on shares of Sprint Corp. in a research report on Wednesday, May 4th. Pacific Crest restated a “sell” rating on shares of Sprint Corp. in a research report on Sunday, July 17th. Moffett Nathanson restated a “sell” rating on shares of Sprint Corp. in a research report on Tuesday, May 3rd. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Sprint Corp. in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Tuesday. Eight equities 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 company. The stock has an average rating of “Hold” and an average price target of $4.20.
The firm’s market capitalization is $23.00 billion. The stock has a 50-day moving average of $4.47 and a 200-day moving average of $3.64.
Sprint Corp. (NYSE:S) last issued its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.00. The firm earned $8 billion during the quarter, compared to analyst estimates of $8.69 billion. During the same quarter in the previous year, the business posted ($0.46) EPS. Sprint Corp.’s revenue was down .2% compared to the same quarter last year. Equities analysts predict that Sprint Corp. will post ($0.83) earnings per share for the current year.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Affinity Investment Advisors LLC raised its position in 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 period. State of New Jersey Common Pension Fund D bought a new position in Sprint Corp. during the fourth quarter valued at approximately $17,376,000. Morgan Stanley raised its position in 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 period. Finally, Rhumbline Advisers raised its position in 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 period.
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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