ValuEngine Downgrades Sprint (S) to Strong Sell

Sprint (NYSE:S) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

Several other brokerages have also recently weighed in on S. Barclays restated a “hold” rating and set a $5.00 price objective on shares of Sprint in a research note on Friday, January 19th. Macquarie cut Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, January 23rd. Robert W. Baird restated a “hold” rating and set a $6.00 price objective on shares of Sprint in a research note on Friday, February 2nd. Cowen restated a “hold” rating on shares of Sprint in a research note on Monday, February 5th. Finally, Bank of America raised their price objective on Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.91.

Shares of Sprint opened at $5.09 on Wednesday, according to MarketBeat Ratings. Sprint has a 12-month low of $5.09 and a 12-month high of $5.14. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $20.54 billion, a P/E ratio of 128.25 and a beta of 0.66.

Sprint (NYSE:S) last issued its earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. Sprint had a return on equity of 0.73% and a net margin of 22.80%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.99 billion. During the same period last year, the business earned ($0.07) EPS. Sprint’s quarterly revenue was down 5.3% compared to the same quarter last year. sell-side analysts forecast that Sprint will post -0.04 earnings per share for the current fiscal year.

In other news, insider John Saw sold 88,319 shares of the firm’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $6.50, for a total transaction of $574,073.50. Following the completion of the sale, the insider now directly owns 1,149,057 shares of the company’s stock, valued at approximately $7,468,870.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in S. Westside Investment Management Inc. increased its holdings in Sprint by 872.7% in the 4th quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock worth $101,000 after acquiring an additional 15,692 shares during the last quarter. BancorpSouth Bank purchased a new stake in Sprint in the 4th quarter worth about $104,000. Wetherby Asset Management Inc. purchased a new stake in Sprint in the 1st quarter worth about $126,000. Delpha Capital Management LLC purchased a new stake in Sprint in the 4th quarter worth about $131,000. Finally, Aspiriant LLC purchased a new stake in Sprint in the 1st quarter worth about $151,000. 13.70% of the stock is owned by institutional investors.

About Sprint

Sprint Corporation, through 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 U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sprint (NYSE:S)

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