Sprint Corp. (NYSE:S)‘s stock had its “outperform” rating reissued by equities researchers at Macquarie in a note issued to investors on Thursday. They currently have a $8.00 price objective on the cell phone carrier’s stock, up from their prior price objective of $7.00. Macquarie’s target price indicates a potential upside of 13.80% from the company’s previous close.
S has been the topic of a number of other research reports. Nomura boosted their price objective on shares of Sprint Corp. to $6.00 in a report on Tuesday, July 26th. RBC Capital Markets reiterated a “sector perform” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Sprint Corp. in a report on Tuesday, July 26th. Morgan Stanley boosted their price objective on shares of Sprint Corp. from $3.00 to $4.40 and gave the stock an “underweight” rating in a report on Thursday, July 28th. Wells Fargo & Co. reiterated an “outperform” rating and issued a $9.00 price objective on shares of Sprint Corp. in a report on Sunday, August 21st. Finally, Pacific Crest reiterated a “sell” rating on shares of Sprint Corp. in a report on Sunday, July 17th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Sprint Corp. has a consensus rating of “Hold” and an average price target of $4.54.
Shares of Sprint Corp. (NYSE:S) opened at 7.03 on Thursday. The firm’s market cap is $27.97 billion. Sprint Corp. has a 52 week low of $2.18 and a 52 week high of $7.10. The stock’s 50 day moving average is $6.57 and its 200 day moving average is $4.92.
Sprint Corp. (NYSE:S) last issued its quarterly earnings data on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.00. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $8.69 billion. During the same quarter in the previous year, the business posted ($0.46) EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts predict that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in Sprint Corp. by 78,073.3% in the second quarter. First Trust Advisors LP now owns 20,373,523 shares of the cell phone carrier’s stock valued at $92,292,000 after buying an additional 20,347,461 shares in the last quarter. Primecap Management Co. CA raised its position in Sprint Corp. by 26.6% in the second quarter. Primecap Management Co. CA now owns 36,561,800 shares of the cell phone carrier’s stock valued at $165,625,000 after buying an additional 7,671,300 shares in the last quarter. Bank of Montreal Can bought a new position in Sprint Corp. during the second quarter valued at $24,937,000. BlackRock Fund Advisors raised its position in Sprint Corp. by 26.1% in the second quarter. BlackRock Fund Advisors now owns 17,746,561 shares of the cell phone carrier’s stock valued at $80,392,000 after buying an additional 3,676,883 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Sprint Corp. by 4.7% in the second quarter. Vanguard Group Inc. now owns 38,197,106 shares of the cell phone carrier’s stock valued at $173,033,000 after buying an additional 1,719,929 shares in the last quarter. Hedge funds and other institutional investors own 14.91% of the company’s stock.
About Sprint Corp.
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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