Sprint Corporation (S) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Sprint Corporation (NYSE:S) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Sprint is on track with its network modernization and integration efforts, to fortify its position in the wireless industry. Sprint’s prepaid subsidiary has extended its unlimited offerings to its existing iPhone owners and has also inked deal with Apple to relaunch itself as an exclusive iPhone carrier. Sprint also offers attractive unlimited data plans to lure customers from rivals. We believe these efforts have driven the huge wireless subscribers. Sprint unveiled its Sprint MultiLine solution which allows businesses to add a company-owned number to their employees' personal phones for better businesses. For full-year 2017, Sprint has raised its outlook. Over the past three months, the stock price underperformed its industry. However, high cash burn from promotional offers and discounts, debt-laden balance sheet and decreasing cash flow have led to losses for Sprint. Further, Sprint operates in a highly competitive wireless market.”

Several other research firms have also commented on S. Deutsche Bank AG lowered their price target on shares of Sprint Corporation from $8.00 to $7.00 and set a hold rating on the stock in a report on Tuesday, October 10th. Cowen and Company reissued a market perform rating and set a $6.50 target price on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed an underperform rating on shares of Sprint Corporation in a research note on Friday, June 30th. J P Morgan Chase & Co reaffirmed a neutral rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $8.00 price target on shares of Sprint Corporation in a research note on Sunday, July 9th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $10.18.

Shares of Sprint Corporation (NYSE:S) traded up 0.28% on Wednesday, hitting $7.07. The stock had a trading volume of 12,030,973 shares. The company’s market cap is $28.26 billion. The company has a 50-day moving average of $7.72 and a 200-day moving average of $8.17. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65.

Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Sprint Corporation (S) Downgraded by Zacks Investment Research to Hold” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/10/19/sprint-corporation-s-downgraded-by-zacks-investment-research-to-hold-2.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of S. Wetherby Asset Management Inc. bought a new position in shares of Sprint Corporation in the 2nd quarter worth about $100,000. Financial Counselors Inc. increased its holdings in shares of Sprint Corporation by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Sprint Corporation in the 2nd quarter worth about $108,000. Advisors Asset Management Inc. increased its holdings in shares of Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sprint Corporation in the 2nd quarter worth about $125,000. Hedge funds and oth

According to Zacks, “Sprint is on track with its network modernization and integration efforts, to fortify its position in the wireless industry. Sprint’s prepaid subsidiary has extended its unlimited offerings to its existing iPhone owners and has also inked deal with Apple to relaunch itself as an exclusive iPhone carrier. Sprint also offers attractive unlimited data plans to lure customers from rivals. We believe these efforts have driven the huge wireless subscribers. Sprint unveiled its Sprint MultiLine solution which allows businesses to add a company-owned number to their employees' personal phones for better businesses. For full-year 2017, Sprint has raised its outlook. Over the past three months, the stock price underperformed its industry. However, high cash burn from promotional offers and discounts, debt-laden balance sheet and decreasing cash flow have led to losses for Sprint. Further, Sprint operates in a highly competitive wireless market.”

Several other research firms have also commented on S. Deutsche Bank AG lowered their price target on shares of Sprint Corporation from $8.00 to $7.00 and set a hold rating on the stock in a report on Tuesday, October 10th. Cowen and Company reissued a market perform rating and set a $6.50 target price on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed an underperform rating on shares of Sprint Corporation in a research note on Friday, June 30th. J P Morgan Chase & Co reaffirmed a neutral rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $8.00 price target on shares of Sprint Corporation in a research note on Sunday, July 9th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $10.18.

Shares of Sprint Corporation (NYSE:S) traded up 0.28% on Wednesday, hitting $7.07. The stock had a trading volume of 12,030,973 shares. The company’s market cap is $28.26 billion. The company has a 50-day moving average of $7.72 and a 200-day moving average of $8.17. Sprint Corporation has a 52-week low of $5.83 and a 52-week high of $9.65.

Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts anticipate that Sprint Corporation will post ($0.83) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Sprint Corporation (S) Downgraded by Zacks Investment Research to Hold” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/10/19/sprint-corporation-s-downgraded-by-zacks-investment-research-to-hold-2.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of S. Wetherby Asset Management Inc. bought a new position in shares of Sprint Corporation in the 2nd quarter worth about $100,000. Financial Counselors Inc. increased its holdings in shares of Sprint Corporation by 1.7% in the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Sprint Corporation in the 2nd quarter worth about $108,000. Advisors Asset Management Inc. increased its holdings in shares of Sprint Corporation by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sprint Corporation in the 2nd quarter worth about $125,000. Hedge funds and other institutional investors own 13.95% of the company’s stock.

Sprint Corporation Company Profile

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.

Analyst Recommendations for Sprint Corporation (NYSE:S)

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