An issue of Sprint Corp (NYSE:S) debt rose 0.8% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 7.125% coupon and is set to mature on June 15, 2024. The bonds in the issue are now trading at $98.84 and were trading at $97.88 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
S has been the topic of a number of recent research reports. Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective on the stock. in a research note on Thursday, January 4th. TheStreet raised shares of Sprint from a “d+” rating to a “c” rating in a research note on Friday, February 2nd. Deutsche Bank lowered their target price on shares of Sprint to $5.50 and set a “hold” rating for the company in a report on Monday, December 11th. Cowen reiterated a “hold” rating on shares of Sprint in a report on Monday, February 5th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $6.00 target price on shares of Sprint in a report on Friday, February 2nd. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.02.
Sprint Corp (NYSE:S) traded up $0.10 during midday trading on Friday, reaching $5.36. 17,386,609 shares of the company were exchanged, compared to its average volume of 15,501,478. Sprint Corp has a 1-year low of $4.91 and a 1-year high of $9.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.92 and a quick ratio of 0.83. The stock has a market capitalization of $21,096.01, a P/E ratio of 3.10 and a beta of 0.64.
Sprint (NYSE:S) last posted its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.19 billion. During the same quarter last year, the company posted ($0.46) earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. research analysts predict that Sprint Corp will post 1.75 earnings per share for the current fiscal year.
In related news, major shareholder Group Corp Softbank acquired 6,239,538 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was acquired at an average price of $5.70 per share, for a total transaction of $35,565,366.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 50,526,414 shares of company stock valued at $290,822,412 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Commerce Bank bought a new position in Sprint during the third quarter worth about $100,000. Westside Investment Management Inc. boosted its position in Sprint by 872.7% during the fourth quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock worth $101,000 after purchasing an additional 15,692 shares during the period. BancorpSouth Bank bought a new position in Sprint during the fourth quarter worth about $104,000. Crossmark Global Holdings Inc. bought a new position in Sprint during the third quarter worth about $141,000. Finally, Americafirst Capital Management LLC bought a new position in Sprint during the third quarter worth about $156,000. Hedge funds and other institutional investors own 13.63% of the company’s stock.
Sprint 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.
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