Sprint Corp. (S) Rating Reiterated by Jefferies Group
Sprint Corp. (NYSE:S)‘s stock had its “underperform” rating reissued by Jefferies Group in a research report issued on Saturday. They currently have a $2.25 target price on the cell phone carrier’s stock. Jefferies Group’s price objective would indicate a potential downside of 67.99% from the stock’s current price.
Several other brokerages also recently commented on S. Macquarie restated an “outperform” rating and set a $8.00 target price (up from $7.00) on shares of Sprint Corp. in a report on Thursday. Wells Fargo & Co. restated a “buy” rating on shares of Sprint Corp. in a report on Sunday, September 11th. Barclays PLC raised their target price on shares of Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 20th. Citigroup Inc. raised their target price on shares of Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $6.00 target price (up from $5.00) on shares of Sprint Corp. in a report on Tuesday, July 26th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. Sprint Corp. presently has an average rating of “Hold” and a consensus price target of $4.54.
Shares of Sprint Corp. (NYSE:S) opened at 7.03 on Friday. Sprint Corp. has a 52 week low of $2.18 and a 52 week high of $7.10. The stock has a 50 day moving average of $6.57 and a 200-day moving average of $4.92. The firm’s market capitalization is $27.97 billion.
Sprint Corp. (NYSE:S) last announced its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.00. The firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.69 billion. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted ($0.46) EPS. Equities analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. MIG Capital LLC boosted its stake in Sprint Corp. by 1.6% in the first quarter. MIG Capital LLC now owns 7,229,415 shares of the cell phone carrier’s stock valued at $25,158,000 after buying an additional 114,015 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Sprint Corp. by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,146,632 shares of the cell phone carrier’s stock valued at $9,724,000 after buying an additional 39,804 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Sprint Corp. during the first quarter valued at about $2,897,000. TIAA CREF Investment Management LLC increased its position in shares of Sprint Corp. by 4.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,187,247 shares of the cell phone carrier’s stock valued at $11,092,000 after buying an additional 142,300 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its position in shares of Sprint Corp. by 2.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 27,801 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 14.92% of the company’s stock.
Sprint Corp. Company Profile
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.
Receive News & Stock Ratings for Sprint Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corp. and related stocks with our FREE daily email newsletter.