Sprint Corporation (S) Downgraded to Neutral at Macquarie
Sprint Corporation (NYSE:S) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Sprint Corporation from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Tuesday, October 3rd. Cowen and Company reaffirmed a “hold” rating and issued a $6.50 price objective on shares of Sprint Corporation in a research note on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Sprint Corporation in a research note on Sunday, July 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Sprint Corporation in a research note on Wednesday, September 20th. Finally, Deutsche Bank AG lowered their price objective on Sprint Corporation from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. Sprint Corporation currently has an average rating of “Hold” and a consensus price target of $10.18.
Shares of Sprint Corporation (S) traded down 0.56% during midday trading on Wednesday, reaching $7.05. 6,849,638 shares of the company’s stock were exchanged. The stock’s market cap is $28.18 billion. Sprint Corporation has a 12 month low of $5.83 and a 12 month high of $9.65. The company’s 50 day moving average is $7.81 and its 200-day moving average is $8.20.
Sprint Corporation (NYSE:S) last issued its earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Wetherby Asset Management Inc. acquired a new position in shares of Sprint Corporation during the second quarter worth approximately $100,000. Financial Counselors Inc. raised its position in shares of Sprint Corporation by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares during the period. Summit Securities Group LLC acquired a new position in shares of Sprint Corporation during the second quarter worth approximately $108,000. Advisors Asset Management Inc. raised its position in shares of Sprint Corporation by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after purchasing an additional 318 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Sprint Corporation during the second quarter worth approximately $125,000. 13.95% of the stock is currently owned by institutional investors.
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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