Sprint Corp. (S) Bonds Rise 0.9% During Trading
An issue of Sprint Corp. (NYSE:S) debt rose 0.9% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 7.625% coupon and will mature on February 15, 2025. The debt is now trading at $101.88 and was trading at $100.59 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
S has been the topic of several research reports. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Sprint Corp. in a report on Tuesday, August 16th. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $9.00 price objective on shares of Sprint Corp. in a research note on Sunday, August 21st. Buckingham Research cut shares of Sprint Corp. from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $5.00 to $3.50 in a research note on Thursday, August 25th. They noted that the move was a valuation call. Citigroup Inc. raised their price objective on shares of Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, September 15th. Finally, Barclays PLC raised their price objective on shares of Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 20th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $4.68.
Sprint Corp. (NYSE:S) traded up 1.78% during trading on Tuesday, reaching $8.00. The company’s stock had a trading volume of 18,199,512 shares. Sprint Corp. has a 1-year low of $2.18 and a 1-year high of $8.10. The company’s market capitalization is $31.85 billion. The company’s 50-day moving average is $6.88 and its 200-day moving average is $5.68.
Sprint Corp. (NYSE:S) last issued its quarterly earnings data on Tuesday, October 25th. The cell phone carrier reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Sprint Corp. had a negative return on equity of 8.91% and a negative net margin of 5.65%. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same period in the prior year, the business earned ($0.15) earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Sprint Corp. will post ($0.83) EPS for the current year.
In related news, VP Paul W. Schieber, Jr. sold 52,375 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $7.36, for a total transaction of $385,480.00. Following the transaction, the vice president now directly owns 205,808 shares in the company, valued at $1,514,746.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roger Sole-Rafols sold 49,844 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $7.53, for a total value of $375,325.32. Following the transaction, the insider now owns 1,516,241 shares in the company, valued at $11,417,294.73. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in S. Sumitomo Mitsui Asset Management Company LTD increased its position in Sprint Corp. by 3.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 51,809 shares of the cell phone carrier’s stock valued at $234,000 after buying an additional 1,878 shares during the period. Public Employees Retirement Association of Colorado increased its position in Sprint Corp. by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 190,438 shares of the cell phone carrier’s stock worth $863,000 after buying an additional 481 shares during the period. Alps Advisors Inc. increased its position in Sprint Corp. by 169.5% in the second quarter. Alps Advisors Inc. now owns 30,795 shares of the cell phone carrier’s stock worth $140,000 after buying an additional 19,369 shares during the period. American Century Companies Inc. increased its position in Sprint Corp. by 371.6% in the second quarter. American Century Companies Inc. now owns 55,172 shares of the cell phone carrier’s stock worth $250,000 after buying an additional 43,473 shares during the period. Finally, Bank of Montreal Can purchased a new position in Sprint Corp. during the second quarter worth approximately $24,937,000. Hedge funds and other institutional investors own 14.63% of the company’s stock.
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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.
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