Sprint (NYSE:S) Issues Quarterly Earnings Results, Hits Expectations

Sprint (NYSE:S) released its 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. Sprint had a negative net margin of 5.78% and a positive return on equity of 0.21%. The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.02 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share.

S stock traded down $0.42 during trading 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. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. Sprint has a 52 week low of $5.44 and a 52 week high of $8.06. The firm’s fifty day moving average price is $7.07. The stock has a market cap of $29.99 billion, a PE ratio of 676.00 and a beta of 0.09.

In other news, insider John Saw sold 7,419 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $7.05, for a total transaction of $52,303.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 92,729 shares of company stock valued at $583,389. 0.39% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC bought a new position in Sprint in the 1st quarter valued at about $405,000. Atwood & Palmer Inc. grew its position in Sprint by 64.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 4,260 shares of the cell phone carrier’s stock valued at $28,000 after buying an additional 1,674 shares in the last quarter. Private Capital Group LLC grew its position in Sprint by 35.2% in the 1st quarter. Private Capital Group LLC now owns 8,115 shares of the cell phone carrier’s stock valued at $46,000 after buying an additional 2,113 shares in the last quarter. Strategic Advisors LLC bought a new position in Sprint in the 2nd quarter valued at about $65,000. Finally, Harwood Advisory Group LLC bought a new position in Sprint in the 1st quarter valued at about $62,000. Institutional investors and hedge funds own 12.88% of the company’s stock.

S has been the subject of several recent research reports. New Street Research lowered shares of Sprint from a “buy” rating to a “neutral” rating in a research note on Thursday, May 23rd. Macquarie reiterated a “hold” rating and set a $5.50 target price on shares of Sprint in a research note on Sunday, May 12th. UBS Group upgraded shares of Sprint from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.50 to $10.00 in a research note on Monday, July 29th. ValuEngine upgraded shares of Sprint from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Finally, Raymond James lowered shares of Sprint from an “outperform” rating to a “market perform” rating and set a $5.57 target price for the company. in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Sprint has an average rating of “Hold” and a consensus target price of $6.51.

About Sprint

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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Earnings History for Sprint (NYSE:S)

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