Q2 2018 Earnings Forecast for Sprint Corporation (S) Issued By Oppenheimer Holdings
Sprint Corporation (NYSE:S) – Equities researchers at Oppenheimer Holdings lifted their Q2 2018 earnings per share (EPS) estimates for shares of Sprint Corporation in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst T. Horan now forecasts that the cell phone carrier will post earnings per share of ($0.01) for the quarter, up from their prior forecast of ($0.03). Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Sprint Corporation’s Q3 2018 earnings at ($0.02) EPS and FY2018 earnings at $0.02 EPS.
A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. BidaskClub downgraded Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Cowen and Company reiterated a “hold” rating and set a $6.50 price target on shares of Sprint Corporation in a research note on Wednesday, July 19th. ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.26.
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Sprint Corporation (S) opened at 8.52 on Friday. The firm’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 company’s 50-day moving average price is $8.20 and its 200 day moving average price is $8.31.
Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, beating the 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 firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.14 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the business. Gateway Investment Advisers LLC raised its holdings in Sprint Corporation by 132.6% during the 2nd 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 period. Karp Capital Management Corp bought a new stake in Sprint Corporation during the 1st quarter valued at $1,792,000. Bank of America Corp DE raised its holdings in Sprint Corporation by 16.8% during the 1st 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 period. Russell Investments Group Ltd. raised its holdings in Sprint Corporation by 801.8% during the 1st 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 period. Finally, Janney Montgomery Scott LLC bought a new stake in Sprint Corporation during the 2nd quarter valued at $125,000. 13.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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