William Blair Weighs in on Sprint Corporation’s Q3 2018 Earnings (S)
Sprint Corporation (NYSE:S) – Investment analysts at William Blair issued their Q3 2018 earnings estimates for Sprint Corporation in a research report issued on Monday. William Blair analyst J. Breen expects that the cell phone carrier will post earnings per share of $0.01 for the quarter. William Blair also issued estimates for Sprint Corporation’s FY2019 earnings at $0.07 EPS.
A number of other equities analysts also recently issued reports on S. UBS AG reiterated a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Cowen Inc reissued a “market perform” rating and set a $6.50 target price on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Barclays PLC reissued a “neutral” rating and set a $8.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 9th. Finally, BidaskClub cut shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.19.
Sprint Corporation (NYSE:S) traded up $0.07 during midday trading on Wednesday, hitting $6.15. 11,253,301 shares of the stock were exchanged, compared to its average volume of 15,256,833. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.03 and a current ratio of 1.10. Sprint Corporation has a 1 year low of $5.62 and a 1 year high of $9.65.
Sprint Corporation (NYSE:S) last issued its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Sprint Corporation had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year.
In other news, CFO Tarek Robbiati sold 363,529 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the sale, the chief financial officer now owns 1,901,974 shares in the company, valued at $11,411,844. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Group Corp Softbank acquired 2,633,814 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $5.98 per share, for a total transaction of $15,750,207.72. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 16,644,832 shares of company stock valued at $100,589,834. Corporate insiders own 0.18% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in S. Vanguard Group Inc. grew its position in shares of Sprint Corporation by 0.8% in the second quarter. Vanguard Group Inc. now owns 37,971,867 shares of the cell phone carrier’s stock valued at $311,749,000 after purchasing an additional 301,765 shares during the period. Odey Asset Management Group Ltd grew its position in shares of Sprint Corporation by 107.3% in the second quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock valued at $66,706,000 after purchasing an additional 4,204,955 shares during the period. Janus Henderson Group PLC grew its position in shares of Sprint Corporation by 6,509.8% in the second quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after purchasing an additional 7,070,812 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sprint Corporation by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,075,012 shares of the cell phone carrier’s stock valued at $58,083,000 after purchasing an additional 50,302 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Sprint Corporation by 17.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 4,000,000 shares of the cell phone carrier’s stock valued at $32,840,000 after purchasing an additional 600,000 shares during the period. Institutional investors own 13.57% of the company’s stock.
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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