Published On: Sun, Sep 11th, 2016

Wells Fargo & Co. Reiterates “Buy” Rating for Sprint Corp. (S)

Sprint Corp. (NYSE:S)‘s stock had its “buy” rating reaffirmed by investment analysts at Wells Fargo & Co. in a note issued to investors on Sunday.
A number of other brokerages also recently issued reports on S. Argus reaffirmed a “hold” rating on shares of Sprint Corp. in a research report on Tuesday, July 26th. Robert W. Baird reissued a “neutral” rating and set a $3.00 target price on shares of Sprint Corp. in a research report on Tuesday, June 28th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Sprint Corp. in a research report on Tuesday, July 26th. Royal Bank Of Canada boosted their target price on shares of Sprint Corp. from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 26th. Finally, Barclays PLC boosted their target price on shares of Sprint Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 26th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.40.
Shares of Sprint Corp. (NYSE:S) opened at 6.65 on Friday. The stock has a 50 day moving average of $6.12 and a 200-day moving average of $4.37. Sprint Corp. has a 52 week low of $2.18 and a 52 week high of $7.03. The stock’s market capitalization is $26.46 billion.

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Sprint Corp. (NYSE:S) last issued its quarterly earnings data on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.00. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. The firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.69 billion. During the same quarter in the previous year, the firm earned ($0.46) EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that Sprint Corp. will post ($0.83) EPS for the current year.
A number of hedge funds and institutional investors recently made changes to their positions in S. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sprint Corp. by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,146,632 shares of the cell phone carrier’s stock valued at $9,724,000 after buying an additional 39,804 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Sprint Corp. by 3.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 51,809 shares of the cell phone carrier’s stock valued at $234,000 after buying an additional 1,878 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of Sprint Corp. by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 190,438 shares of the cell phone carrier’s stock valued at $863,000 after buying an additional 481 shares during the period. Alps Advisors Inc. raised its position in shares of Sprint Corp. by 169.5% in the second quarter. Alps Advisors Inc. now owns 30,795 shares of the cell phone carrier’s stock valued at $140,000 after buying an additional 19,369 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Sprint Corp. by 371.6% in the second quarter. American Century Companies Inc. now owns 55,172 shares of the cell phone carrier’s stock valued at $250,000 after buying an additional 43,473 shares during the period. 14.94% of the stock is owned by institutional investors.
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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