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An issue of Sprint Corporation (NYSE:S) debt fell 0.8% against its face value during trading on Tuesday. The high-yield debt issue has a 7.125% coupon and is set to mature on June 15, 2024. The debt is now trading at $111.50 and was trading at $110.13 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.
A number of research firms recently weighed in on S. Wells Fargo & Company reissued an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “market perform” rating and set a $6.50 price objective on shares of Sprint Corporation in a research note on Tuesday, August 8th. Barclays PLC reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Sprint Corporation in a research note on Wednesday. BidaskClub cut shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research note on Friday. Finally, UBS AG reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.89.
Shares of Sprint Corporation (NYSE:S) opened at 8.31 on Friday. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. The firm’s market capitalization is $33.21 billion. The firm has a 50-day moving average of $8.33 and a 200 day moving average of $8.47.
Sprint Corporation (NYSE:S) last announced its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Sprint Corporation will post ($0.83) earnings per share for the current year.
In other Sprint Corporation news, VP Paul W. Schieber, Jr. sold 24,465 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. New Jersey Better Educational Savings Trust bought a new position in Sprint Corporation during the first quarter valued at about $434,000. Shell Asset Management Co. increased its stake in Sprint Corporation by 17.6% in the first quarter. Shell Asset Management Co. now owns 45,764 shares of the cell phone carrier’s stock valued at $397,000 after buying an additional 6,865 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in Sprint Corporation by 475.3% in the first quarter. Glen Harbor Capital Management LLC now owns 36,380 shares of the cell phone carrier’s stock valued at $316,000 after buying an additional 30,056 shares during the last quarter. Profund Advisors LLC increased its stake in Sprint Corporation by 91.6% in the first quarter. Profund Advisors LLC now owns 249,798 shares of the cell phone carrier’s stock valued at $2,168,000 after buying an additional 119,423 shares during the last quarter. Finally, IFC Holdings Incorporated FL acquired a new stake in Sprint Corporation during the first quarter valued at approximately $241,000. 14.35% of the stock is owned by hedge funds and other institutional investors.
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Sprint Corporation 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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