Sprint Corporation’s (S) Neutral Rating Reiterated at Nomura

Nomura reiterated their neutral rating on shares of Sprint Corporation (NYSE:S) in a research report released on Thursday morning. They currently have a $7.00 price objective on the cell phone carrier’s stock, down from their prior price objective of $8.00.

Several other equities analysts have also issued reports on the company. Moffett Nathanson reaffirmed a sell rating on shares of Sprint Corporation in a research note on Thursday, October 12th. Macquarie lowered Sprint Corporation from an outperform rating to a neutral rating in a research note on Wednesday, October 18th. BTIG Research upped their price target on Sprint Corporation from $3.85 to $4.00 and gave the company a sell rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered Sprint Corporation from a buy rating to a hold rating in a research note on Wednesday, October 18th. Finally, ValuEngine lowered Sprint Corporation from a hold rating to a sell rating in a research note on Monday, October 16th. Seven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Sprint Corporation has a consensus rating of Hold and an average target price of $10.26.

Shares of Sprint Corporation (NYSE:S) traded down 0.14% during midday trading on Thursday, hitting $6.99. 9,697,079 shares of the company were exchanged. Sprint Corporation has a one year low of $5.83 and a one year high of $9.65. The firm’s market cap is $27.94 billion. The company’s 50 day moving average price is $7.51 and its 200 day moving average price is $8.10.

Sprint Corporation (NYSE:S) last announced its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Sprint Corporation had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Equities analysts expect that Sprint Corporation will post ($0.83) EPS for the current year.

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A number of hedge funds have recently bought and sold shares of S. BlackRock Inc. lifted its position 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 valued at $340,355,000 after buying an additional 38,431,100 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of 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 valued at $58,944,000 after buying an additional 7,070,812 shares during the last quarter. Odey Asset Management Group Ltd lifted its position in shares of 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 valued at $66,706,000 after buying an additional 4,204,955 shares during the last quarter. Janus Capital Management LLC lifted its position in shares of 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 valued at $58,064,000 after buying an additional 3,247,400 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Sprint Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock valued at $326,977,000 after buying an additional 1,823,591 shares during the last quarter. Hedge funds and other institutional investors own 13.95% of the company’s stock.

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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