Brokerages Set Sprint Corporation (S) Price Target at $10.22
Sprint Corporation (NYSE:S) has earned a consensus recommendation of “Hold” from the twenty-four analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $10.22.
Several analysts recently weighed in on S shares. Cowen and Company reissued a “market perform” rating and set a $6.50 price target on shares of Sprint Corporation in a report on Tuesday, August 8th. Barclays PLC reissued a “neutral” rating and set a $8.00 price target on shares of Sprint Corporation in a report on Wednesday, August 9th. UBS AG reissued a “neutral” rating and set a $9.00 price target on shares of Sprint Corporation in a report on Wednesday, August 2nd. BidaskClub cut Sprint Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th.
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Shares of Sprint Corporation (NYSE:S) traded down 1.02% on Friday, hitting $7.77. The stock had a trading volume of 8,323,775 shares. The company’s market cap is $31.06 billion. Sprint Corporation has a 52 week low of $5.83 and a 52 week high of $9.65. The stock’s 50-day moving average price is $8.27 and its 200 day moving average price is $8.34. Sprint Corporation also saw some unusual options trading on Wednesday. Stock traders purchased 2,058 put options on the company. This is an increase of 459% compared to the average daily volume of 368 put options.
Sprint Corporation (NYSE:S) last released its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same period last year, the firm posted ($0.08) earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Sprint Corporation will post ($0.83) EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC lifted its holdings in Sprint Corporation by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock worth $572,000 after buying an additional 802 shares during the period. WINTON GROUP Ltd acquired a new position in Sprint Corporation during the 2nd quarter worth about $341,000. Public Employees Retirement System of Ohio lifted its holdings in Sprint Corporation by 24.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 432,391 shares of the cell phone carrier’s stock worth $3,550,000 after buying an additional 85,526 shares during the period. Koch Industries Inc. acquired a new position in Sprint Corporation during the 2nd quarter worth about $434,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Sprint Corporation during the 2nd quarter worth about $1,088,000. 13.96% of the stock is currently owned by hedge funds and other institutional investors.
Sprint Corporation Company Profile
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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