Sprint (S) Bond Prices Fall 0.7%

An issue of Sprint Corp (NYSE:S) debt fell 0.7% against its face value during trading on Monday. 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 debt in credit markets often predict parallel changes in its share price.

Several analysts recently issued reports on S shares. TheStreet downgraded Sprint from a “c-” rating to a “d+” rating in a research note on Tuesday, December 19th. Deutsche Bank decreased their target price on Sprint to $5.50 and set a “hold” rating on the stock in a research note on Monday, December 11th. Jefferies Group decreased their target price on Sprint from $5.50 to $4.50 and set an “underperform” rating on the stock in a research note on Tuesday, November 7th. Macquarie reissued a “hold” rating and set a $6.50 target price on shares of Sprint in a research note on Tuesday, November 7th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $8.00 target price on shares of Sprint in a research note on Tuesday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.10.

Shares of Sprint Corp (S) traded up $0.02 during trading on Monday, hitting $5.64. The stock had a trading volume of 12,812,197 shares, compared to its average volume of 15,363,114. The stock has a market cap of $22,560.00, a PE ratio of -37.60 and a beta of 0.79. 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 Corp has a 12-month low of $5.42 and a 12-month high of $9.65.

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

In other Sprint news, VP Paul W. Schieber, Jr. sold 144,041 shares of Sprint stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total transaction of $826,795.34. Following the completion of the sale, the vice president now directly owns 204,168 shares of the company’s stock, valued at approximately $1,171,924.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Group Corp Softbank bought 5,095,549 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were purchased at an average cost of $5.64 per share, with a total value of $28,738,896.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 32,017,395 shares of company stock valued at $187,921,002 and have sold 913,236 shares valued at $5,377,413. 0.18% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of S. Janus Henderson Group PLC raised its position in shares of Sprint by 6,509.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock worth $58,944,000 after acquiring an additional 7,070,812 shares in the last quarter. Odey Asset Management Group Ltd raised its position in shares of Sprint by 107.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock worth $66,706,000 after acquiring an additional 4,204,955 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Sprint by 1,182.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,235,281 shares of the cell phone carrier’s stock worth $9,609,000 after acquiring an additional 1,138,942 shares in the last quarter. Naya Capital Management UK Ltd. raised its position in shares of Sprint by 67.1% in the 2nd quarter. Naya Capital Management UK Ltd. now owns 2,423,100 shares of the cell phone carrier’s stock worth $19,894,000 after acquiring an additional 973,100 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in shares of Sprint in the 2nd quarter worth $434,000. 13.74% of the stock is owned by institutional investors and hedge funds.

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Sprint 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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