Cowen and Company Reiterates Market Perform Rating for Sprint Corporation (S)

Sprint Corporation (NYSE:S)‘s stock had its “market perform” rating reiterated by equities researchers at Cowen and Company in a report released on Tuesday, August 8th. They presently have a $6.50 target price on the cell phone carrier’s stock. Cowen and Company’s price target indicates a potential downside of 19.45% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Vetr downgraded Sprint Corporation from a “strong-buy” rating to a “buy” rating and set a $9.26 target price for the company. in a research report on Monday, April 10th. BidaskClub downgraded Sprint Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. TheStreet raised Sprint Corporation from a “d+” rating to a “c+” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $8.00 price target on shares of Sprint Corporation in a report on Sunday, July 9th. Finally, SunTrust Banks, Inc. assumed coverage on Sprint Corporation in a report on Tuesday, April 18th. They issued a “hold” rating and a $9.00 price target for the company. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Sprint Corporation presently has a consensus rating of “Hold” and an average price target of $9.89.

Shares of Sprint Corporation (NYSE S) traded down 0.25% during mid-day trading on Tuesday, hitting $8.07. The company’s stock had a trading volume of 4,690,810 shares. The company’s market cap is $32.25 billion. The stock has a 50-day moving average of $8.35 and a 200-day moving average of $8.44. Sprint Corporation has a 12-month low of $5.83 and a 12-month high of $9.65. Sprint Corporation also was the recipient of some unusual options trading on Wednesday. Traders purchased 2,058 put options on the company. This is an increase of approximately 459% compared to the average daily volume of 368 put options.

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

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In related news, VP Paul W. Schieber, Jr. sold 24,465 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total transaction of $201,102.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Sprint Corporation by 5.0% in the first quarter. Creative Planning now owns 123,149 shares of the cell phone carrier’s stock valued at $1,069,000 after buying an additional 5,884 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Sprint Corporation by 9.2% in the first quarter. Capstone Asset Management Co. now owns 18,432 shares of the cell phone carrier’s stock valued at $160,000 after buying an additional 1,552 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Sprint Corporation by 8.7% in the first quarter. DnB Asset Management AS now owns 89,120 shares of the cell phone carrier’s stock valued at $774,000 after buying an additional 7,100 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Sprint Corporation by 44.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 315,856 shares of the cell phone carrier’s stock valued at $2,742,000 after buying an additional 97,068 shares in the last quarter. Finally, Nationwide Fund Advisors purchased a new stake in Sprint Corporation during the first quarter worth $2,862,000. 14.29% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Sprint Corporation (NYSE:S)

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