Sprint Corp (NYSE:S) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They currently have a $9.34 target price on the cell phone carrier’s stock. Vetr‘s target price points to a potential upside of 12.67% from the company’s previous close.
Other analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $6.00 price objective on shares of Sprint Corp in a report on Tuesday, January 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $6.00 price objective on shares of Sprint Corp in a report on Friday, January 27th. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Sprint Corp in a report on Tuesday, January 31st. Moffett Nathanson reaffirmed a “sell” rating and set a $49.00 price objective on shares of Sprint Corp in a report on Wednesday, February 1st. Finally, BTIG Research reaffirmed a “sell” rating and set a $2.50 price objective on shares of Sprint Corp in a report on Wednesday, December 21st. Eight equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.20.
Sprint Corp (NYSE:S) traded down 2.47% on Monday, hitting $8.29. 13,895,264 shares of the stock traded hands. Sprint Corp has a 12-month low of $3.21 and a 12-month high of $9.65. The firm’s market cap is $33.05 billion. The stock has a 50-day moving average of $8.69 and a 200-day moving average of $7.88.
Sprint Corp (NYSE:S) last posted its quarterly earnings data on Tuesday, January 31st. The cell phone carrier reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.29 billion. Sprint Corp had a negative return on equity of 7.23% and a negative net margin of 4.49%. Sprint Corp’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. Analysts forecast that Sprint Corp will post ($0.83) earnings per share for the current year.
Several large investors have recently made changes to their positions in S. Dodge & Cox purchased a new stake in shares of Sprint Corp during the fourth quarter worth about $1,497,022,000. Norges Bank purchased a new stake in shares of Sprint Corp during the fourth quarter worth about $345,860,000. MIG Capital LLC purchased a new stake in shares of Sprint Corp during the fourth quarter worth about $58,039,000. Discovery Capital Management LLC CT boosted its stake in shares of Sprint Corp by 28.0% in the fourth quarter. Discovery Capital Management LLC CT now owns 30,501,948 shares of the cell phone carrier’s stock worth $256,826,000 after buying an additional 6,663,494 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Sprint Corp by 54.0% in the third quarter. Morgan Stanley now owns 14,231,691 shares of the cell phone carrier’s stock worth $94,356,000 after buying an additional 4,990,833 shares during the period. Institutional investors and hedge funds own 14.35% 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.
To view Vetr’s full report, visit Vetr’s official website.
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