Sprint Corporation (S) Sees Strong Trading Volume

Sprint Corporation (NYSE:S) saw an uptick in trading volume on Tuesday . 46,733,107 shares were traded during mid-day trading, an increase of 298% from the previous session’s volume of 11,731,600 shares.The stock last traded at $8.20 and had previously closed at $7.68.

Several research firms recently commented on S. BidaskClub lowered shares of Sprint Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. 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. 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. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research report on Wednesday, August 2nd. Finally, UBS 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. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. Sprint Corporation presently has an average rating of “Hold” and a consensus target price of $10.26.

The company’s 50-day moving average price is $8.20 and its 200-day moving average price is $8.31. The company’s market capitalization is $32.77 billion.

Sprint Corporation (NYSE:S) last announced its quarterly earnings data on Tuesday, August 1st. The cell phone carrier reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The firm had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same period last year, the company posted ($0.08) EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Sprint Corporation will post ($0.83) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Counselors Inc. boosted its position in Sprint Corporation by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after acquiring an additional 201 shares during the period. Ronald Blue & Co. LLC boosted its position in Sprint Corporation by 1.1% during the 1st quarter. Ronald Blue & Co. LLC now owns 21,322 shares of the cell phone carrier’s stock worth $185,000 after acquiring an additional 222 shares during the period. Advisors Asset Management Inc. boosted its position in Sprint Corporation by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after acquiring an additional 318 shares during the period. Pacer Advisors Inc. boosted its position in Sprint Corporation by 1.9% during the 1st quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after acquiring an additional 483 shares during the period. Finally, World Asset Management Inc boosted its position in Sprint Corporation by 2.9% during the 1st quarter. World Asset Management Inc now owns 24,645 shares of the cell phone carrier’s stock worth $214,000 after acquiring an additional 693 shares during the period. Hedge funds and other institutional investors own 13.95% of the company’s stock.

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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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