An issue of Sprint Corporation (NYSE:S) bonds rose 2.3% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.875% coupon and will mature on November 15, 2028. The debt is now trading at $112.00 and was trading at $110.38 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

A number of equities research analysts have commented on S shares. Macquarie raised their target price on shares of Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. SunTrust Banks, Inc. started coverage on shares of Sprint Corporation in a report on Tuesday, April 18th. They set a “hold” rating and a $9.00 price objective for the company. Cowen and Company cut their price objective on shares of Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, May 4th. TheStreet raised shares of Sprint Corporation from a “d+” rating to a “c+” rating in a report on Wednesday, May 3rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.89.

Shares of Sprint Corporation (NYSE S) opened at 8.40 on Wednesday. The stock’s 50 day moving average price is $8.25 and its 200 day moving average price is $8.49. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The company’s market capitalization is $33.54 billion.

Sprint Corporation (NYSE:S) last announced its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Sprint Corporation’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Sprint Corporation will post ($0.83) earnings per share for the current fiscal year.

In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Sprint Corporation by 5.0% in the first quarter. Creative Planning now owns 123,149 shares of the cell phone carrier’s stock worth $1,069,000 after buying an additional 5,884 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Sprint Corporation by 9.2% in the first quarter. Capstone Asset Management Co. now owns 18,432 shares of the cell phone carrier’s stock worth $160,000 after buying an additional 1,552 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Sprint Corporation by 8.7% in the first quarter. DnB Asset Management AS now owns 89,120 shares of the cell phone carrier’s stock worth $774,000 after buying an additional 7,100 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Sprint Corporation by 44.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 315,856 shares of the cell phone carrier’s stock worth $2,742,000 after buying an additional 97,068 shares during the last quarter. Finally, Nationwide Fund Advisors acquired a new position in shares of Sprint Corporation during the first quarter worth about $2,862,000. Institutional investors and hedge funds own 14.35% of the company’s stock.

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Sprint Corporation 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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