Barclays Reiterates “Hold” Rating for Sprint (NYSE:S)

Sprint (NYSE:S)‘s stock had its “hold” rating reaffirmed by analysts at Barclays in a research report issued on Tuesday, October 15th, AnalystRatings.com reports. They presently have a $6.00 price target on the cell phone carrier’s stock. Barclays‘s target price would suggest a potential downside of 1.80% from the company’s current price.

A number of other brokerages have also issued reports on S. UBS Group upgraded Sprint from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.50 to $10.00 in a research note on Monday, July 29th. ValuEngine lowered Sprint from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.43.

Sprint stock traded down $0.08 during trading on Tuesday, reaching $6.11. The company had a trading volume of 10,028,652 shares, compared to its average volume of 17,742,869. Sprint has a 52 week low of $5.44 and a 52 week high of $8.06. The firm’s 50-day simple moving average is $6.27 and its 200 day simple moving average is $6.62. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 611.00 and a beta of 0.28. The company has a current ratio of 0.78, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50.

Sprint (NYSE:S) last announced its earnings results on Monday, November 4th. The cell phone carrier reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). Sprint had a negative return on equity of 2.63% and a negative net margin of 8.19%. The company had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Sprint’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts predict that Sprint will post -0.1 earnings per share for the current year.

In other news, CTO John Saw sold 189,531 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $6.83, for a total transaction of $1,294,496.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in Sprint by 9.9% in the first quarter. First Trust Advisors LP now owns 3,560,407 shares of the cell phone carrier’s stock worth $20,116,000 after purchasing an additional 320,796 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Sprint in the first quarter worth about $70,000. Amundi Pioneer Asset Management Inc. lifted its stake in Sprint by 1.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 536,140 shares of the cell phone carrier’s stock worth $3,030,000 after purchasing an additional 5,414 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in Sprint in the second quarter worth about $325,000. Finally, Xact Kapitalforvaltning AB lifted its stake in Sprint by 23.3% in the second quarter. Xact Kapitalforvaltning AB now owns 136,718 shares of the cell phone carrier’s stock worth $898,000 after purchasing an additional 25,877 shares during the last quarter. Institutional investors own 14.19% of the company’s stock.

Sprint Company Profile

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.

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