Sprint Corporation (S) Bonds Trading 0.9% Lower Analyst
An issue of Sprint Corporation (NYSE:S) bonds fell 0.9% as a percentage of their face value during trading on Wednesday after Deutsche Bank AG lowered their price target on the stock from $8.00 to $7.00. The high-yield issue of debt has a 8.75% coupon and is set to mature on March 15, 2032. The bonds in the issue are now trading at $127.13 and were trading at $128.00 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
A number of other equities research analysts also recently commented on S. BidaskClub downgraded Sprint Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. HSBC Holdings plc reissued a “reduce” rating and issued a $7.20 target price on shares of Sprint Corporation in a report on Friday, June 16th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Sprint Corporation in a report on Wednesday, June 28th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.10.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. acquired a new position in shares of Sprint Corporation in the 2nd quarter valued at about $100,000. Financial Counselors Inc. lifted its stake in shares of Sprint Corporation by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock valued at $100,000 after purchasing an additional 201 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Sprint Corporation in the 2nd quarter valued at about $108,000. Advisors Asset Management Inc. lifted its stake in shares of Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after purchasing an additional 318 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Sprint Corporation in the 2nd quarter valued at about $125,000. 13.95% of the stock is currently owned by institutional investors and hedge funds.
The stock’s market cap is $28.54 billion. The firm’s 50-day moving average is $7.87 and its 200-day moving average is $8.21.
Sprint Corporation (NYSE:S) last issued its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the 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 company had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Sprint Corporation will post ($0.83) earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/10/13/sprint-corporation-s-bonds-trading-0-9-lower-analyst.html.
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.
Receive News & Stock Ratings for Sprint Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint Corporation and related stocks with our FREE daily email newsletter.