Sprint Corporation (NYSE:S) – Research analysts at Gabelli raised their FY2021 earnings per share estimates for shares of Sprint Corporation in a research report issued on Thursday, Zacks Investment Research reports. Gabelli analyst S. Dluzhevskiy now expects that the cell phone carrier will earn $0.45 per share for the year, up from their previous estimate of $0.40. Gabelli also issued estimates for Sprint Corporation’s FY2022 earnings at $0.55 EPS.
Other research analysts also recently issued research reports about the company. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint Corporation in a report on Thursday, October 12th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprint Corporation in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and set a $6.50 price objective on shares of Sprint Corporation in a report on Wednesday, July 19th. BidaskClub downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, ValuEngine downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Sprint Corporation has a consensus rating of “Hold” and a consensus target price of $9.65.
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Sprint Corporation (NYSE S) traded down $0.16 during trading hours on Monday, reaching $6.03. The company’s stock had a trading volume of 16,538,700 shares, compared to its average volume of 15,369,448. Sprint Corporation has a 12-month low of $5.62 and a 12-month high of $9.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.03 and a current ratio of 1.10.
Sprint Corporation (NYSE:S) last posted its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Sprint Corporation 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 for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wetherby Asset Management Inc. bought a new position in shares of Sprint Corporation in the 2nd quarter valued at about $100,000. Financial Counselors Inc. grew 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 valued at $100,000 after acquiring an additional 201 shares in the last quarter. Commerce Bank bought a new position in shares of Sprint Corporation in the 3rd quarter valued at about $100,000. Summit Securities Group LLC bought a new position in shares of Sprint Corporation in the 2nd quarter valued at about $108,000. Finally, Advisors Asset Management Inc. grew 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 valued at $122,000 after acquiring an additional 318 shares in the last quarter. Institutional investors own 13.80% of the company’s stock.
In other news, major shareholder Group Corp Softbank bought 4,322,990 shares of the stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $6.21 per share, for a total transaction of $26,845,767.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have acquired 14,011,018 shares of company stock valued at $84,839,626. Corporate insiders own 0.18% of the company’s stock.
About Sprint Corporation
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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