Sprint (S) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Sprint (NYSE:S) from a hold rating to a buy rating in a research note released on Monday.

S has been the subject of several other reports. Cowen reissued a hold rating and set a $4.50 price objective on shares of Sprint in a research note on Monday. Zacks Investment Research cut shares of Sprint from a buy rating to a hold rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $5.55.

Shares of S opened at $6.24 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 89.14, a price-to-earnings-growth ratio of 5.99 and a beta of 0.53. Sprint has a fifty-two week low of $4.81 and a fifty-two week high of $6.62.

Sprint (NYSE:S) last issued its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.40 billion. Sprint had a net margin of 0.90% and a return on equity of 1.08%. During the same quarter last year, the firm posted $1.76 earnings per share. On average, analysts forecast that Sprint will post 0.05 EPS for the current year.

In other Sprint news, insider Jorge Enrique Gracia sold 129,652 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $6.38, for a total value of $827,179.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Fisher sold 327,525 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $6.20, for a total transaction of $2,030,655.00. Following the completion of the transaction, the director now owns 2,419,275 shares of the company’s stock, valued at approximately $14,999,505. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Sprint by 2,277.5% in the third quarter. Renaissance Technologies LLC now owns 11,366,643 shares of the cell phone carrier’s stock valued at $74,338,000 after acquiring an additional 10,888,543 shares in the last quarter. Morgan Stanley boosted its holdings in Sprint by 145.5% during the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock worth $56,275,000 after buying an additional 5,100,266 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in Sprint by 298.9% during the third quarter. Alpine Associates Management Inc. now owns 7,206,000 shares of the cell phone carrier’s stock worth $47,126,000 after buying an additional 5,399,600 shares in the last quarter. Scout Investments Inc. boosted its holdings in Sprint by 1.5% during the third quarter. Scout Investments Inc. now owns 6,168,531 shares of the cell phone carrier’s stock worth $40,342,000 after buying an additional 90,940 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Sprint by 2.0% during the second quarter. Northern Trust Corp now owns 5,536,425 shares of the cell phone carrier’s stock worth $30,118,000 after buying an additional 107,441 shares in the last quarter. Hedge funds and other institutional investors own 12.88% of the company’s stock.

About Sprint

Sprint Corporation, together with 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 United States Virgin Islands. It operates in two segments, Wireless and Wireline.

Recommended Story: What is Liquidity?

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

Analyst Recommendations for Sprint (NYSE:S)

Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit