Wells Fargo & Co. Reiterates “Buy” Rating for Sprint Corp. (S)
Sprint Corp. (NYSE:S)‘s stock had its “buy” rating reiterated by analysts at Wells Fargo & Co. in a report released on Monday.
A number of other brokerages have also recently weighed in on S. Pacific Crest restated a “sell” rating on shares of Sprint Corp. in a report on Sunday, July 17th. FBR & Co restated an “outperform” rating and set a $8.00 target price on shares of Sprint Corp. in a report on Thursday, October 27th. Deutsche Bank AG raised their target price on shares of Sprint Corp. from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 26th. Argus restated a “hold” rating on shares of Sprint Corp. in a report on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Sprint Corp. in a report on Tuesday, July 26th. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.72.
Shares of Sprint Corp. (NYSE:S) opened at 7.74 on Monday. The stock’s market capitalization is $30.82 billion. The stock’s 50 day moving average is $6.60 and its 200 day moving average is $5.34. Sprint Corp. has a 52 week low of $2.18 and a 52 week high of $7.77.
Sprint Corp. (NYSE:S) last posted its quarterly earnings data on Tuesday, October 25th. The cell phone carrier reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business earned $8.25 billion during the quarter, compared to analysts’ expectations of $8.69 billion. Sprint Corp. had a negative net margin of 5.65% and a negative return on equity of 8.91%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share. Analysts anticipate that Sprint Corp. will post ($0.83) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of S. HighTower Advisors LLC raised its stake in shares of Sprint Corp. by 14.4% in the third quarter. HighTower Advisors LLC now owns 15,740 shares of the cell phone carrier’s stock valued at $102,000 after buying an additional 1,983 shares during the period. Dai Ichi Life Holdings Inc. acquired a new stake in shares of Sprint Corp. during the third quarter valued at $108,000. Highland Capital Management LLC acquired a new stake in shares of Sprint Corp. during the third quarter valued at $121,000. Private Bank & Trust Co. raised its stake in shares of Sprint Corp. by 80.4% in the third quarter. Private Bank & Trust Co. now owns 18,515 shares of the cell phone carrier’s stock valued at $123,000 after buying an additional 8,250 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in shares of Sprint Corp. by 45.1% in the third quarter. Checchi Capital Advisers LLC now owns 18,696 shares of the cell phone carrier’s stock valued at $124,000 after buying an additional 5,809 shares during the period. Institutional investors and hedge funds own 14.73% 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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