An issue of Sprint Corp (NYSE:S) debt rose 1.8% against its face value during trading on Friday. The high-yield debt issue has a 6.875% coupon and is set to mature on November 15, 2028. The debt is now trading at $96.00 and was trading at $98.13 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Several brokerages have issued reports on S. Barclays began coverage on shares of Sprint in a research note on Wednesday. They issued an “equal weight” rating and a $6.00 price objective for the company. Guggenheim raised shares of Sprint from a “sell” rating to a “neutral” rating and set a $4.50 price objective for the company in a research note on Monday, April 30th. Wells Fargo & Co reissued a “buy” rating on shares of Sprint in a research note on Thursday. ValuEngine downgraded shares of Sprint from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 1st. Finally, Gabelli reissued a “hold” rating on shares of Sprint in a research note on Tuesday, April 24th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.98.
Get Sprint alerts:NYSE S opened at $5.44 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.23 and a current ratio of 1.32. Sprint Corp has a 12-month low of $4.81 and a 12-month high of $8.92. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 136.75 and a beta of 0.63.
Sprint (NYSE:S) last released its quarterly earnings results on Wednesday, May 2nd. The cell phone carrier reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. Sprint had a net margin of 22.80% and a return on equity of 0.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.99 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. sell-side analysts anticipate that Sprint Corp will post -0.05 EPS for the current year.
In other news, insider John Saw sold 88,319 shares of Sprint stock in a transaction on Friday, April 27th. The shares were sold at an average price of $6.50, for a total transaction of $574,073.50. Following the completion of the sale, the insider now directly owns 1,149,057 shares in the company, valued at $7,468,870.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in Sprint by 11.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,555,050 shares of the cell phone carrier’s stock valued at $9,160,000 after buying an additional 155,196 shares in the last quarter. California Public Employees Retirement System increased its holdings in Sprint by 5.0% in the fourth quarter. California Public Employees Retirement System now owns 1,529,510 shares of the cell phone carrier’s stock valued at $9,009,000 after buying an additional 72,710 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sprint by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 3,682,775 shares of the cell phone carrier’s stock worth $21,693,000 after purchasing an additional 87,274 shares in the last quarter. BlackRock Inc. increased its stake in shares of Sprint by 19.8% during the fourth quarter. BlackRock Inc. now owns 43,490,226 shares of the cell phone carrier’s stock worth $256,158,000 after purchasing an additional 7,188,919 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Sprint by 5.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,380,813 shares of the cell phone carrier’s stock worth $14,023,000 after purchasing an additional 116,343 shares in the last quarter. Institutional investors and hedge funds own 12.70% of the company’s stock.
About Sprint
Sprint Corporation, through its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline.
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