Sprint (S) Bonds Trading 0.7% Lower

An issue of Sprint Corp (NYSE:S) bonds fell 0.7% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6% coupon and is set to mature on November 15, 2022. The debt is now trading at $99.88 and was trading at $100.00 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

Several equities research analysts recently weighed in on S shares. Zacks Investment Research raised shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research report on Tuesday, October 10th. UBS reaffirmed a “buy” rating and set a $7.50 price objective (down previously from $9.00) on shares of Sprint in a research report on Monday, November 6th. Macquarie reaffirmed a “hold” rating and set a $8.00 price objective on shares of Sprint in a research report on Thursday, October 26th. KeyCorp cut shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective for the company. in a research report on Monday, November 6th. Finally, Nomura reissued a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Sprint in a report on Thursday, October 26th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Sprint currently has a consensus rating of “Hold” and a consensus target price of $7.10.

Shares of Sprint Corp (NYSE S) traded up $0.02 during midday trading on Friday, reaching $5.64. 12,813,943 shares of the company were exchanged, compared to its average volume of 15,363,114. The company has a market cap of $22,321.93, a price-to-earnings ratio of -37.60 and a beta of 0.79. Sprint Corp has a 1-year low of $5.42 and a 1-year high of $9.65. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80.

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, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $8.05 billion. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) EPS. analysts predict that Sprint Corp will post -0.02 EPS for the current year.

In other news, major shareholder Group Corp Softbank bought 5,095,549 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was acquired at an average price of $5.64 per share, with a total value of $28,738,896.36. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Tarek Robbiati sold 363,529 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $6.00, for a total transaction of $2,181,174.00. Following the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at approximately $11,411,844. The disclosure for this sale can be found here. In the last quarter, insiders purchased 32,017,395 shares of company stock valued at $187,921,002 and sold 913,236 shares valued at $5,377,413. 0.18% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of Sprint during the 2nd quarter worth approximately $125,000. Schwab Charles Investment Management Inc. grew its position in shares of Sprint by 8.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,148,503 shares of the cell phone carrier’s stock worth $9,430,000 after buying an additional 92,389 shares during the period. First Trust Advisors LP grew its position in shares of Sprint by 0.9% during the 2nd quarter. First Trust Advisors LP now owns 1,389,626 shares of the cell phone carrier’s stock worth $11,409,000 after buying an additional 12,072 shares during the period. Advisors Asset Management Inc. grew its position in shares of Sprint by 2.2% during the 2nd 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 period. Finally, State of Wisconsin Investment Board grew its position in shares of Sprint by 17.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 918,197 shares of the cell phone carrier’s stock worth $7,538,000 after buying an additional 135,610 shares during the period. 13.74% of the stock is owned by institutional investors and hedge funds.

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About Sprint

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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