Sprint Corporation (NYSE:S) – Equities research analysts at William Blair issued their Q3 2018 earnings estimates for shares of Sprint Corporation in a research note issued on Monday. William Blair analyst J. Breen forecasts that the cell phone carrier will post earnings of $0.01 per share for the quarter. William Blair also issued estimates for Sprint Corporation’s FY2019 earnings at $0.07 EPS.
Several other equities analysts also recently issued reports on S. Cowen and Company reiterated a “market perform” rating and issued a $6.50 price objective on shares of Sprint Corporation in a research report on Tuesday, August 8th. Barclays PLC reiterated a “neutral” rating and issued a $8.00 price objective on shares of Sprint Corporation in a research report on Wednesday, August 9th. Moffett Nathanson reiterated a “sell” rating on shares of Sprint Corporation in a research report on Thursday, October 12th. UBS Group AG reiterated a “neutral” rating and issued a $9.00 price objective on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.19.
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Sprint Corporation (NYSE:S) last posted its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the company earned ($0.04) EPS. Sprint Corporation’s revenue was down 3.9% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the stock. Overbrook Management Corp acquired a new stake in shares of Sprint Corporation during the second quarter worth $3,564,000. Swiss National Bank grew its stake in shares of Sprint Corporation by 3.0% during the second quarter. Swiss National Bank now owns 2,905,351 shares of the cell phone carrier’s stock worth $23,853,000 after purchasing an additional 83,900 shares during the period. FMR LLC grew its stake in shares of Sprint Corporation by 3.1% during the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock worth $31,492,000 after purchasing an additional 115,192 shares during the period. Personal Capital Advisors Corp grew its stake in shares of Sprint Corporation by 76.9% during the third quarter. Personal Capital Advisors Corp now owns 872,562 shares of the cell phone carrier’s stock worth $6,789,000 after purchasing an additional 379,238 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Sprint Corporation during the third quarter worth $598,000. 13.57% of the stock is owned by institutional investors and hedge funds.
In other news, major shareholder Group Corp Softbank bought 2,633,814 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $5.98 per share, for a total transaction of $15,750,207.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tarek Robbiati sold 363,529 shares of Sprint Corporation stock in a transaction on Monday, November 13th. The stock was sold at an average price of $6.00, for a total value of $2,181,174.00. Following the sale, the chief financial officer now directly owns 1,901,974 shares of the company’s stock, valued at $11,411,844. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 16,644,832 shares of company stock valued at $100,589,834. 0.18% of the stock is currently owned by corporate insiders.
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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