Sprint Corp. (NYSE:S) fell 5% during trading on Tuesday . The company traded as low as $6.25 and last traded at $6.32, with a volume of 29,229,009 shares traded. The stock had previously closed at $6.65.
A number of research firms have recently commented on S. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Sprint Corp. in a research report on Sunday, September 11th. Barclays PLC increased their price objective on Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Tuesday. Citigroup Inc. increased their price objective on Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. RBC Capital Markets reiterated a “sector perform” rating and set a $6.00 price objective (up from $5.00) on shares of Sprint Corp. in a report on Tuesday, July 26th. Finally, Macquarie reiterated an “outperform” rating and set a $6.75 price objective (up from $5.50) on shares of Sprint Corp. in a report on Wednesday, July 27th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.48.
The firm’s market capitalization is $25.50 billion. The company has a 50-day moving average price of $6.29 and a 200-day moving average price of $4.55.
Sprint Corp. (NYSE:S) last announced its quarterly earnings data on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.00. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. The business earned $8 billion during the quarter, compared to analyst estimates of $8.69 billion. During the same period in the prior year, the company earned ($0.46) earnings per share. Sprint Corp.’s revenue was down .2% compared to the same quarter last year. Equities analysts expect that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Sprint Corp. by 2.3% in the first quarter. State Street Corp now owns 13,220,561 shares of the cell phone carrier’s stock worth $46,010,000 after buying an additional 295,819 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Sprint Corp. during the first quarter worth about $205,000. Alpine Partners VI LLC acquired a new stake in shares of Sprint Corp. during the first quarter worth about $565,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Sprint Corp. by 364.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 63,833 shares of the cell phone carrier’s stock worth $222,000 after buying an additional 50,100 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Sprint Corp. by 39.5% in the first quarter. M&T Bank Corp now owns 59,136 shares of the cell phone carrier’s stock worth $206,000 after buying an additional 16,733 shares during the period. Institutional investors own 14.92% of the company’s stock.
Sprint Corp. Company Profile
Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.
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