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.
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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.
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