Sprint (S) Bonds Trading 1.5% Higher

An issue of Sprint Corp (NYSE:S) bonds rose 1.5% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 7.875% coupon and will mature on September 15, 2023. The debt is now trading at $106.50 and was trading at $105.58 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

S has been the subject of a number of research analyst reports. ValuEngine cut Sprint from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Cowen reiterated a “hold” rating and set a $4.50 price target on shares of Sprint in a report on Monday, February 4th. William Blair reiterated an “underperform” rating on shares of Sprint in a report on Monday, February 11th. Finally, Zacks Investment Research upgraded Sprint from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Tuesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Sprint has a consensus rating of “Hold” and a consensus price target of $5.83.

Shares of NYSE:S traded up $0.08 during trading on Monday, reaching $6.47. 11,366,400 shares of the stock were exchanged, compared to its average volume of 13,626,863. Sprint Corp has a 12 month low of $4.81 and a 12 month high of $6.62. The stock has a market cap of $25.22 billion, a PE ratio of 92.43, a P/E/G ratio of 7.23 and a beta of 0.51. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 1.28.

Sprint (NYSE:S) last issued its quarterly earnings data on Thursday, January 31st. The cell phone carrier reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Sprint had a return on equity of 1.08% and a net margin of 0.90%. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. Equities research analysts expect that Sprint Corp will post 0.04 earnings per share for the current year.

Several large investors have recently modified their holdings of S. Norges Bank bought a new stake in shares of Sprint in the fourth quarter valued at approximately $80,633,000. Renaissance Technologies LLC boosted its stake in shares of Sprint by 2,277.5% in the third quarter. Renaissance Technologies LLC now owns 11,366,643 shares of the cell phone carrier’s stock valued at $74,338,000 after buying an additional 10,888,543 shares during the period. Alpine Associates Management Inc. boosted its stake in shares of Sprint by 50.7% in the fourth quarter. Alpine Associates Management Inc. now owns 10,860,532 shares of the cell phone carrier’s stock valued at $63,208,000 after buying an additional 3,654,532 shares during the period. Morgan Stanley boosted its stake in shares of Sprint by 145.5% in the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock valued at $56,275,000 after buying an additional 5,100,266 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Sprint by 65.2% in the fourth quarter. Millennium Management LLC now owns 7,504,689 shares of the cell phone carrier’s stock valued at $43,677,000 after buying an additional 2,962,560 shares during the period. Institutional investors own 13.13% of the company’s stock.

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Sprint Company Profile (NYSE:S)

Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.

Further Reading: The risks of owning bonds

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