Deutsche Bank Lowers Sprint (S) Price Target to $5.50

Sprint (NYSE:S) had its target price dropped by Deutsche Bank to $5.50 in a research report issued on Monday. The brokerage currently has a “hold” rating on the cell phone carrier’s stock. Deutsche Bank’s price target points to a potential downside of 3.17% from the company’s current price.

A number of other equities analysts have also commented on S. Zacks Investment Research upgraded shares of Sprint from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a report on Tuesday, October 10th. UBS reiterated a “buy” rating and issued a $7.50 price objective (down previously from $9.00) on shares of Sprint in a report on Monday, November 6th. Macquarie reiterated a “hold” rating and issued a $8.00 price objective on shares of Sprint in a report on Thursday, October 26th. KeyCorp lowered shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 price objective on the stock. in a report on Monday, November 6th. Finally, Nomura restated a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Sprint in a research note on Thursday, October 26th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.10.

Shares of Sprint (NYSE:S) opened at $5.68 on Monday. Sprint has a 12 month low of $5.42 and a 12 month high of $9.65. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.80.

Sprint (NYSE:S) last announced its quarterly earnings data on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Sprint had a negative net margin of 1.82% and a negative return on equity of 3.19%. The company had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the company earned ($0.04) EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. research analysts expect that Sprint will post -0.03 EPS for the current fiscal year.

In related news, insider Dow Draper sold 292,707 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $5.71, for a total value of $1,671,356.97. Following the completion of the sale, the insider now owns 1,165,158 shares in the company, valued at approximately $6,653,052.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Group Corp Softbank purchased 6,484,367 shares of Sprint stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average price of $5.92 per share, with a total value of $38,387,452.64. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 18,651,252 shares of company stock valued at $112,608,289 and have sold 769,195 shares valued at $4,550,618. 0.18% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Americafirst Capital Management LLC acquired a new position in shares of Sprint during the 3rd quarter worth $156,000. Capital Bank & Trust Co grew its stake in Sprint by 10,821.7% in the 3rd quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock valued at $168,000 after buying an additional 21,427 shares during the last quarter. Cowen Inc. acquired a new position in Sprint in the 3rd quarter valued at $934,000. Magnetar Financial LLC acquired a new position in Sprint in the 3rd quarter valued at $771,000. Finally, Asset Management One Co. Ltd. grew its stake in Sprint by 1,182.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,235,281 shares of the cell phone carrier’s stock valued at $9,609,000 after buying an additional 1,138,942 shares during the last quarter. Institutional investors own 13.74% of the company’s stock.

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About Sprint

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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