An issue of Sprint Corp. (NYSE:S) bonds rose 1.5% against their face value during trading on Tuesday. The high-yield debt issue has a 6% coupon and will mature on November 15, 2022. The bonds in the issue are now trading at $90.50 and were trading at $87.35 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
S has been the subject of a number of analyst reports. Barclays PLC raised their price target on Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup Inc. increased their target price on Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, September 15th. Wells Fargo & Co. reiterated a “buy” rating on shares of Sprint Corp. in a research note on Sunday, September 11th. Buckingham Research lowered Sprint Corp. from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $5.00 to $3.50 in a research note on Thursday, August 25th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Sprint Corp. in a research note on Tuesday, August 16th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Sprint Corp. currently has a consensus rating of “Hold” and a consensus target price of $4.48.
Sprint Corp. (NYSE:S) opened at 6.21 on Wednesday. Sprint Corp. has a 12 month low of $2.18 and a 12 month high of $7.03. The stock’s market capitalization is $24.71 billion. The company’s 50-day moving average price is $6.28 and its 200 day moving average price is $4.54.
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Sprint Corp. (NYSE:S) last released its quarterly earnings data on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.00. Sprint Corp. had a negative return on equity of 10.53% and a negative net margin of 7.08%. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same quarter in the prior year, the business posted ($0.46) EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts forecast that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in S. Nomura Holdings Inc. increased its position in Sprint Corp. by 290.2% in the second quarter. Nomura Holdings Inc. now owns 2,020,597 shares of the cell phone carrier’s stock worth $9,024,000 after buying an additional 1,502,744 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Sprint Corp. by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 295,733 shares of the cell phone carrier’s stock worth $1,340,000 after buying an additional 12,500 shares during the last quarter. Investment Centers of America Inc. increased its position in Sprint Corp. by 19.2% in the second quarter. Investment Centers of America Inc. now owns 77,705 shares of the cell phone carrier’s stock worth $355,000 after buying an additional 12,530 shares during the last quarter. Calvert Investment Management Inc. increased its position in Sprint Corp. by 1.6% in the second quarter. Calvert Investment Management Inc. now owns 33,840 shares of the cell phone carrier’s stock worth $153,000 after buying an additional 548 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Sprint Corp. by 21.5% in the second quarter. Stifel Financial Corp now owns 210,461 shares of the cell phone carrier’s stock worth $954,000 after buying an additional 37,253 shares during the last quarter. Institutional investors and hedge funds own 14.93% of the company’s stock.
Sprint Corp. Company Profile
Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.
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