Sprint Corporation (NYSE:S) announced its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06, MarketWatch Earnings reports. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The firm had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Sprint Corporation’s quarterly revenue was up 1.8% on a year-over-year basis.
Sprint Corporation (NYSE:S) opened at 8.07 on Friday. The company’s 50-day moving average price is $8.35 and its 200 day moving average price is $8.44. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65. The stock’s market capitalization is $32.25 billion. Sprint Corporation also saw unusually large options trading on Wednesday. Investors acquired 2,058 put options on the company. This is an increase of approximately 459% compared to the average daily volume of 368 put options.
A number of brokerages recently weighed in on S. BidaskClub lowered Sprint Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Macquarie upped their price objective on Sprint Corporation from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, June 28th. Cowen and Company decreased their target price on Sprint Corporation from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, May 4th. Finally, Barclays PLC reiterated a “neutral” rating and set a $8.00 target price on shares of Sprint Corporation in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.89.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after buying an additional 38,431,100 shares in the last quarter. Janus Henderson Group PLC raised its position in Sprint Corporation by 6,509.8% in the second quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock worth $58,944,000 after buying an additional 7,070,812 shares during the last quarter. Odey Asset Management Group Ltd raised its position in Sprint Corporation by 107.3% in the second quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock worth $66,706,000 after buying an additional 4,204,955 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Sprint Corporation during the first quarter worth approximately $29,512,000. Finally, Janus Capital Management LLC raised its position in Sprint Corporation by 94.3% in the first quarter. Janus Capital Management LLC now owns 6,689,392 shares of the cell phone carrier’s stock worth $58,064,000 after buying an additional 3,247,400 shares during the last quarter. 14.29% of the stock is owned by institutional investors.
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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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