Sprint Corp (NYSE:S) Receives $6.43 Average PT from Brokerages
Shares of Sprint Corp (NYSE:S) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.43.
A number of brokerages recently issued reports on S. ValuEngine lowered Sprint from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group upgraded Sprint from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $6.50 to $10.00 in a research report on Monday, July 29th. Finally, Barclays reiterated a “hold” rating and set a $6.00 target price on shares of Sprint in a research report on Tuesday, October 15th.
Shares of NYSE S opened at $5.63 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.78 and a quick ratio of 0.71. The company has a market cap of $23.57 billion, a P/E ratio of 563.00 and a beta of 0.28. Sprint has a 1 year low of $5.44 and a 1 year high of $8.06. The firm has a 50-day simple moving average of $6.17 and a two-hundred day simple moving average of $6.63.
In other news, CTO John Saw sold 189,531 shares of Sprint stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.83, for a total transaction of $1,294,496.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Sprint by 44.0% in the 2nd quarter. Renaissance Technologies LLC now owns 69,952,504 shares of the cell phone carrier’s stock valued at $459,588,000 after purchasing an additional 21,383,042 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Sprint by 267.8% in the 2nd quarter. First Trust Advisors LP now owns 13,095,075 shares of the cell phone carrier’s stock valued at $86,035,000 after purchasing an additional 9,534,668 shares in the last quarter. Farallon Capital Management LLC raised its stake in Sprint by 571.4% in the second quarter. Farallon Capital Management LLC now owns 10,675,000 shares of the cell phone carrier’s stock worth $70,135,000 after buying an additional 9,085,000 shares in the last quarter. Alpine Associates Management Inc. bought a new position in Sprint in the second quarter worth approximately $35,611,000. Finally, Paulson & CO. Inc. raised its stake in Sprint by 156.8% in the second quarter. Paulson & CO. Inc. now owns 8,000,000 shares of the cell phone carrier’s stock worth $52,560,000 after buying an additional 4,885,100 shares in the last quarter. 14.12% of the stock is owned by institutional investors and hedge funds.
Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
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