Sprint Corp (NYSE:S) – Analysts at Oppenheimer lowered their FY2019 earnings estimates for Sprint in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Oppenheimer analyst T. Horan now expects that the cell phone carrier will post earnings per share of $0.03 for the year, down from their prior forecast of $0.04. Oppenheimer has a “Hold” rating on the stock.
Sprint (NYSE:S) last issued its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share.
Other equities research analysts also recently issued reports about the stock. Vetr downgraded shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective for the company. in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Tuesday, October 10th. UBS Group reaffirmed a “buy” rating and set a $7.50 target price (down from $9.00) on shares of Sprint in a report on Monday, November 6th. TheStreet cut shares of Sprint from a “c-” rating to a “d+” rating in a report on Tuesday, December 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sprint in a report on Wednesday, October 11th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.72.
Shares of Sprint (NYSE:S) opened at $5.69 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. The stock has a market cap of $22,760.00, a P/E ratio of -37.93 and a beta of 0.79. Sprint has a 1 year low of $5.42 and a 1 year high of $9.65.
In related news, CFO Tarek Robbiati sold 363,529 shares of Sprint stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total value of $2,181,174.00. Following the transaction, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Group Corp Softbank acquired 2,102,152 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was purchased at an average cost of $5.92 per share, for a total transaction of $12,444,739.84. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 66,259,693 shares of company stock worth $386,856,614 and sold 913,236 shares worth $5,377,413. Company insiders own 0.18% of the company’s stock.
A number of large investors have recently made changes to their positions in S. Financial Counselors Inc. grew its stake in shares of Sprint 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 buying an additional 201 shares during the last quarter. Commerce Bank bought a new stake in shares of Sprint during the third quarter worth $100,000. Advisors Asset Management Inc. grew its stake in shares of Sprint 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 buying an additional 318 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Sprint during the second quarter worth $125,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Sprint during the third quarter worth $141,000. 13.74% of the stock is currently owned by institutional investors and hedge funds.
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Sprint 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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