Sprint Corp (S) Bond Prices Fall 0.9% Analyst

An issue of Sprint Corp (NYSE:S) bonds fell 0.9% against their face value during trading on Wednesday after Deutsche Bank AG lowered their price target on the stock from $8.00 to $7.00. The debt issue has a 8.75% coupon and will mature on March 15, 2032. The bonds in the issue are now trading at $127.13 and were trading at $128.00 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

S has been the topic of several other research reports. BidaskClub downgraded Sprint Corp from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corp in a research note on Wednesday, June 28th. Zacks Investment Research downgraded Sprint Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Cowen and Company reiterated a “market perform” rating and set a $6.50 price target on shares of Sprint Corp in a research note on Tuesday, August 8th. Finally, Barclays PLC reiterated a “neutral” rating and set a $8.00 price target on shares of Sprint Corp in a research note on Wednesday, August 9th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Sprint Corp currently has an average rating of “Hold” and an average target price of $10.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its holdings in Sprint Corp by 1.2% in the 2nd quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock worth $572,000 after purchasing an additional 802 shares during the period. WINTON GROUP Ltd acquired a new position in Sprint Corp in the 2nd quarter worth about $341,000. Public Employees Retirement System of Ohio raised its holdings in Sprint Corp by 24.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 432,391 shares of the cell phone carrier’s stock worth $3,550,000 after purchasing an additional 85,526 shares during the period. Koch Industries Inc. acquired a new position in Sprint Corp in the 2nd quarter worth about $434,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Sprint Corp in the 2nd quarter worth about $1,088,000. 13.95% of the stock is owned by institutional investors.

The firm’s market capitalization is $28.74 billion. The firm has a 50-day moving average price of $7.90 and a 200-day moving average price of $8.22.

Sprint Corp (NYSE:S) last announced its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint Corp had a return on equity of 4.37% and a net margin of 2.53%. The company had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts forecast that Sprint Corp will post ($0.83) earnings per share for the current fiscal year.

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About Sprint Corp

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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