Sprint (S) Shares Gap Up Following Strong Earnings

Sprint Corp (NYSE:S)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $6.18, but opened at $6.12. Sprint shares last traded at $6.31, with a volume of 458661 shares trading hands.

The cell phone carrier reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.95 billion. Sprint had a net margin of 22.73% and a return on equity of 0.51%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS.

A number of research analysts have commented on S shares. ValuEngine raised shares of Sprint from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research downgraded shares of Sprint from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Sprint presently has a consensus rating of “Hold” and an average price target of $5.85.

In other news, insider John Saw sold 260,095 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $6.14, for a total value of $1,596,983.30. Following the sale, the insider now directly owns 1,333,982 shares in the company, valued at approximately $8,190,649.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Sprint by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,936,279 shares of the cell phone carrier’s stock worth $33,847,000 after purchasing an additional 25,113 shares in the last quarter. LPL Financial LLC boosted its stake in Sprint by 358.4% in the 1st quarter. LPL Financial LLC now owns 64,133 shares of the cell phone carrier’s stock worth $313,000 after purchasing an additional 50,141 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Sprint by 1,141.1% in the 1st quarter. Guggenheim Capital LLC now owns 628,131 shares of the cell phone carrier’s stock worth $3,065,000 after purchasing an additional 577,519 shares in the last quarter. Legal & General Group Plc boosted its stake in Sprint by 13.9% in the 1st quarter. Legal & General Group Plc now owns 3,897,012 shares of the cell phone carrier’s stock worth $19,018,000 after purchasing an additional 476,264 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Sprint by 135.3% in the 1st quarter. WINTON GROUP Ltd now owns 32,122 shares of the cell phone carrier’s stock worth $157,000 after purchasing an additional 18,468 shares in the last quarter. Institutional investors and hedge funds own 13.13% of the company’s stock.

The company has a market capitalization of $22.74 billion, a P/E ratio of 90.21 and a beta of 0.81. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.10 and a current ratio of 1.15.

About Sprint (NYSE:S)

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.

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