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.

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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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