SunTrust Banks Comments on Sprint Corp’s Q1 2019 Earnings (S)

Sprint Corp (NYSE:S) – SunTrust Banks decreased their Q1 2019 earnings per share (EPS) estimates for shares of Sprint in a research note issued to investors on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the cell phone carrier will earn ($0.06) per share for the quarter, down from their prior forecast of ($0.05). SunTrust Banks also issued estimates for Sprint’s Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.12) EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.35) EPS, Q1 2020 earnings at ($0.13) EPS, Q2 2020 earnings at ($0.13) EPS and FY2020 earnings at ($0.48) EPS.

Several other equities analysts also recently weighed in on S. Oppenheimer reissued a “hold” rating on shares of Sprint in a research report on Wednesday, September 20th. Zacks Investment Research raised Sprint from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Tuesday, October 3rd. KeyCorp downgraded Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price target for the company. in a research report on Monday, November 6th. UBS reaffirmed a “buy” rating and issued a $7.50 price objective (down previously from $9.00) on shares of Sprint in a research report on Monday, November 6th. Finally, Deutsche Bank lowered their price objective on Sprint to $5.50 and set a “hold” rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Sprint presently has an average rating of “Hold” and an average target price of $7.10.

Sprint (NYSE:S) traded down $0.02 during midday trading on Monday, reaching $5.44. The company had a trading volume of 19,843,600 shares, compared to its average volume of 15,168,573. Sprint has a 12-month low of $5.42 and a 12-month high of $9.65. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80.

Sprint (NYSE:S) last released its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the business posted ($0.04) EPS. Sprint’s quarterly revenue was down 3.9% on a year-over-year basis.

In other news, insider Dow Draper sold 292,707 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $5.71, for a total transaction of $1,671,356.97. Following the completion of the transaction, the insider now directly owns 1,165,158 shares of the company’s stock, valued at $6,653,052.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Group Corp Softbank bought 6,484,367 shares of the stock in a transaction dated Tuesday, November 7th. The shares were bought at an average cost of $5.92 per share, with a total value of $38,387,452.64. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,651,252 shares of company stock worth $112,608,289 and sold 769,195 shares worth $4,550,618. Insiders own 0.18% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Counselors Inc. lifted its position in Sprint by 1.7% in the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Sprint by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock valued at $122,000 after acquiring an additional 318 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Sprint by 1.9% during the 2nd quarter. Pacer Advisors Inc. now owns 26,256 shares of the cell phone carrier’s stock valued at $216,000 after acquiring an additional 500 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Sprint by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock valued at $572,000 after acquiring an additional 802 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Sprint by 4.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 43,611 shares of the cell phone carrier’s stock valued at $359,000 after acquiring an additional 1,898 shares during the last quarter. Institutional investors and hedge funds own 13.74% of the company’s stock.

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About Sprint

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.

Earnings History and Estimates for Sprint (NYSE:S)

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