Sprint Corporation (S) Bonds Trading 1.8% Higher

An issue of Sprint Corporation (NYSE:S) bonds rose 1.8% as a percentage of their face value during trading on Monday. The debt issue has a 8.75% coupon and is set to mature on March 15, 2032. The debt is now trading at $116.06 and was trading at $115.50 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

Several equities research analysts have recently commented on S shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprint Corporation in a research report on Monday, November 14th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Sprint Corporation in a research report on Wednesday, October 26th. Zacks Investment Research cut shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. FBR & Co raised their target price on shares of Sprint Corporation from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 19th. Finally, Macquarie reiterated a “buy” rating and issued a $10.25 price target on shares of Sprint Corporation in a research note on Sunday, January 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Sprint Corporation presently has an average rating of “Hold” and a consensus price target of $7.90.

Shares of Sprint Corporation (NYSE:S) opened at 9.07 on Wednesday. The stock’s 50 day moving average is $8.81 and its 200 day moving average is $7.37. Sprint Corporation has a 52-week low of $2.84 and a 52-week high of $9.65. The company’s market cap is $36.16 billion.

Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Tuesday, January 31st. The cell phone carrier reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Sprint Corporation had a negative net margin of 4.49% and a negative return on equity of 7.23%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned ($0.21) EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. MIG Capital LLC acquired a new position in shares of Sprint Corporation during the fourth quarter valued at $58,039,000. Discovery Capital Management LLC CT increased its position in shares of Sprint Corporation by 28.0% in the fourth quarter. Discovery Capital Management LLC CT now owns 30,501,948 shares of the cell phone carrier’s stock valued at $256,826,000 after buying an additional 6,663,494 shares during the period. Morgan Stanley increased its position in shares of Sprint Corporation by 54.0% in the third quarter. Morgan Stanley now owns 14,231,691 shares of the cell phone carrier’s stock valued at $94,356,000 after buying an additional 4,990,833 shares during the period. Janus Capital Management LLC increased its position in shares of Sprint Corporation by 1,128.9% in the fourth quarter. Janus Capital Management LLC now owns 3,441,992 shares of the cell phone carrier’s stock valued at $28,981,000 after buying an additional 3,161,900 shares during the period. Finally, Laurion Capital Management LP acquired a new position in shares of Sprint Corporation during the third quarter valued at $19,619,000. Hedge funds and other institutional investors own 14.35% of the company’s stock.

“Sprint Corporation (S) Bonds Trading 1.8% Higher” was first published by sleekmoney and is owned by of sleekmoney. If you are reading this piece on another domain, it was stolen and reposted in violation of international copyright laws. The original version of this piece can be read at http://sleekmoney.com/sprint-corporation-s-bonds-trading-1-8-higher/1661775.html.

About Sprint Corporation

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.

5 Day Chart for NYSE:S

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/sprint-corporation-s-bonds-trading-1-8-higher/1661775.html

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

 

Leave a Reply

Your email address will not be published. Required fields are marked *