Sprint Corporation (S) Rating Lowered to Buy at BidaskClub
Sprint Corporation (NYSE:S) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
A number of other research analysts have also issued reports on S. ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Vetr upgraded Sprint Corporation from a “hold” rating to a “buy” rating and set a $9.39 target price for the company in a report on Monday, February 20th. Zacks Investment Research lowered Sprint Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. TheStreet upgraded Sprint Corporation from a “d+” rating to a “c+” rating in a report on Wednesday, May 3rd. Finally, Cowen and Company decreased their target price on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, May 4th. Seven investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Sprint Corporation presently has a consensus rating of “Hold” and an average target price of $9.07.
Sprint Corporation (S) opened at 7.80 on Thursday. The company’s market capitalization is $31.13 billion. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $8.53. Sprint Corporation has a 52-week low of $3.76 and a 52-week high of $9.65.
Sprint Corporation (NYSE:S) last released its quarterly earnings results on Wednesday, May 3rd. The cell phone carrier reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.03. Sprint Corporation had a negative return on equity of 5.90% and a negative net margin of 3.62%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.
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In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of Sprint Corporation stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in S. Dodge & Cox purchased a new stake in shares of Sprint Corporation during the fourth quarter valued at approximately $1,497,022,000. Norges Bank purchased a new stake in shares of Sprint Corporation during the fourth quarter valued at approximately $345,860,000. BlackRock Inc. raised its stake in shares of Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock valued at $340,355,000 after buying an additional 38,431,100 shares during the period. MIG Capital LLC purchased a new stake in shares of Sprint Corporation during the fourth quarter valued at approximately $58,039,000. Finally, Discovery Capital Management LLC CT raised its stake in shares of Sprint Corporation 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 valued at $256,826,000 after buying an additional 6,663,494 shares during the period. 14.40% of the stock is currently owned by institutional investors and hedge funds.
About Sprint Corporation
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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