Sprint (NYSE:S) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Sprint (NYSE:S) from a buy rating to a hold rating in a research report released on Tuesday morning, ValuEngine reports.

Several other equities research analysts also recently issued reports on the stock. UBS Group upgraded shares of Sprint from a neutral rating to a buy rating and raised their price objective for the stock from $6.50 to $10.00 in a research report on Monday, July 29th. Barclays restated a hold rating and set a $6.00 price objective on shares of Sprint in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Sprint has a consensus rating of Hold and a consensus target price of $6.43.

S stock traded down $0.11 during trading hours on Tuesday, reaching $5.63. The stock had a trading volume of 10,502,334 shares, compared to its average volume of 17,634,861. The stock has a 50-day simple moving average of $6.19 and a 200 day simple moving average of $6.63. Sprint has a fifty-two week low of $5.44 and a fifty-two week high of $8.06. The stock has a market capitalization of $23.94 billion, a PE ratio of 563.00 and a beta of 0.28. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.78 and a quick ratio of 0.71.

Sprint (NYSE:S) last announced its quarterly earnings results on Monday, November 4th. The cell phone carrier reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $8.17 billion. Sprint had a negative return on equity of 2.63% and a negative net margin of 8.19%. Sprint’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. On average, sell-side analysts forecast that Sprint will post -0.1 EPS for the current fiscal year.

In other Sprint news, CTO John Saw sold 189,531 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.83, for a total value of $1,294,496.73. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in S. Renaissance Technologies LLC increased its holdings in Sprint by 44.0% in the 2nd quarter. Renaissance Technologies LLC now owns 69,952,504 shares of the cell phone carrier’s stock worth $459,588,000 after purchasing an additional 21,383,042 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Sprint by 267.8% during the second quarter. First Trust Advisors LP now owns 13,095,075 shares of the cell phone carrier’s stock worth $86,035,000 after purchasing an additional 9,534,668 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Sprint by 571.4% during the second quarter. Farallon Capital Management LLC now owns 10,675,000 shares of the cell phone carrier’s stock worth $70,135,000 after purchasing an additional 9,085,000 shares during the last quarter. Paulson & CO. Inc. increased its stake in shares of Sprint by 156.8% in the second quarter. Paulson & CO. Inc. now owns 8,000,000 shares of the cell phone carrier’s stock valued at $52,560,000 after buying an additional 4,885,100 shares during the period. Finally, Alpine Associates Management Inc. acquired a new position in shares of Sprint in the second quarter valued at approximately $35,611,000. Institutional investors and hedge funds own 14.12% of the company’s stock.

About Sprint

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.

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Analyst Recommendations for Sprint (NYSE:S)

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