Sprint (NYSE:S) issued its quarterly earnings results on Friday. The cell phone carrier reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03), RTT News reports. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.02 billion. Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. During the same quarter in the prior year, the firm posted $0.04 earnings per share.
Shares of Sprint stock traded down $0.42 on Friday, hitting $6.76. 35,394,091 shares of the company’s stock traded hands, compared to its average volume of 26,198,572. Sprint has a one year low of $5.44 and a one year high of $8.06. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.98. The firm’s fifty day moving average price is $7.07. The company has a market cap of $29.99 billion, a P/E ratio of 676.00 and a beta of 0.09.
In related news, CTO John Saw sold 62,444 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $5.96, for a total transaction of $372,166.24. Following the sale, the chief technology officer now owns 1,090,096 shares in the company, valued at approximately $6,496,972.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 92,729 shares of company stock worth $583,389. 0.39% of the stock is owned by corporate insiders.
S has been the subject of several recent research reports. Raymond James cut Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 price target for the company. in a research note on Monday, April 29th. New Street Research cut Sprint from a “buy” rating to a “neutral” rating in a research note on Thursday, May 23rd. Macquarie reissued a “hold” rating and issued a $5.50 price target on shares of Sprint in a research note on Sunday, May 12th. ValuEngine raised Sprint from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Finally, UBS Group raised Sprint from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.50 to $10.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Sprint has a consensus rating of “Hold” and an average target price of $6.51.
Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
Read More: How to trade on quiet period expirations
Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.