$8.13 Billion in Sales Expected for Sprint Corporation (S) This Quarter
Equities research analysts forecast that Sprint Corporation (NYSE:S) will announce $8.13 billion in sales for the current quarter, according to Zacks. Eighteen analysts have issued estimates for Sprint Corporation’s earnings. The lowest sales estimate is $7.68 billion and the highest is $8.50 billion. Sprint Corporation reported sales of $8.25 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The business is expected to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Sprint Corporation will report full-year sales of $8.13 billion for the current financial year, with estimates ranging from $30.86 billion to $34.09 billion. For the next financial year, analysts forecast that the company will report sales of $33.22 billion per share, with estimates ranging from $30.73 billion to $34.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Sprint Corporation.
Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. Sprint Corporation’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) earnings per share.
S has been the topic of several recent analyst reports. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. BidaskClub lowered Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Cowen and Company reiterated a “hold” rating and set a $6.50 target price on shares of Sprint Corporation in a report on Wednesday, July 19th. ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.26.
Large investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC increased its position in shares of Sprint Corporation by 132.6% in the second quarter. Gateway Investment Advisers LLC now owns 97,701 shares of the cell phone carrier’s stock valued at $802,000 after acquiring an additional 55,704 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Sprint Corporation in the first quarter valued at about $1,792,000. Bank of America Corp DE increased its position in shares of Sprint Corporation by 16.8% in the first quarter. Bank of America Corp DE now owns 645,740 shares of the cell phone carrier’s stock valued at $5,605,000 after acquiring an additional 93,034 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Sprint Corporation by 801.8% in the first quarter. Russell Investments Group Ltd. now owns 796,104 shares of the cell phone carrier’s stock valued at $6,904,000 after acquiring an additional 707,821 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sprint Corporation in the second quarter valued at about $125,000. 13.95% of the stock is currently owned by institutional investors and hedge funds.
Sprint Corporation (S) traded up 6.10% on Wednesday, reaching $8.52. The company had a trading volume of 26,203,014 shares. The stock’s market capitalization is $34.05 billion. Sprint Corporation has a 12 month low of $5.83 and a 12 month high of $9.65. The firm has a 50 day moving average price of $8.20 and a 200-day moving average price of $8.31.
About Sprint Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sprint Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corporation and related companies with MarketBeat.com's FREE daily email newsletter.