Sprint Corp. (S) Shares Up 3.5%
Sprint Corp. (NYSE:S)’s share price shot up 3.5% during trading on Monday . The stock traded as high as $6.44 and last traded at $6.42, with a volume of 18,109,500 shares trading hands. The stock had previously closed at $6.20.
Several brokerages have recently commented on S. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $6.00 price target (up previously from $5.00) on shares of Sprint Corp. in a research note on Tuesday, July 26th. Macquarie reaffirmed an “outperform” rating and issued a $6.75 price target (up previously from $5.50) on shares of Sprint Corp. in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of Sprint Corp. in a research note on Tuesday, August 16th. Buckingham Research lowered Sprint Corp. from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $5.00 to $3.50 in a research note on Thursday, August 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co. reissued an “outperform” rating and set 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 issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.40.
The firm’s market capitalization is $25.54 billion. The company’s 50 day moving average is $5.87 and its 200-day moving average is $4.25.
Sprint Corp. (NYSE:S) last announced its quarterly earnings data 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 firm earned $8 billion during the quarter, compared to the consensus estimate of $8.69 billion. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. Equities analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current fiscal 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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