Deutsche Bank AG Cuts Sprint Corporation (S) Price Target to $7.00

Sprint Corporation (NYSE:S) had its target price decreased by Deutsche Bank AG from $8.00 to $7.00 in a research report sent to investors on Tuesday. Deutsche Bank AG currently has a hold rating on the cell phone carrier’s stock.

Several other brokerages also recently commented on S. Wells Fargo & Company reaffirmed an outperform rating on shares of Sprint Corporation in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Sprint Corporation from a hold rating to a buy rating and set a $8.50 target price for the company in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of Sprint Corporation from a strong-buy rating to a buy rating in a research note on Thursday, June 15th. Cowen and Company reaffirmed a hold rating and issued a $6.50 target price on shares of Sprint Corporation in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a sell rating and issued a $5.00 target price on shares of Sprint Corporation in a research note on Friday, July 14th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $10.10.

Sprint Corporation (NYSE:S) last posted its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.14 billion. Sprint Corporation had a negative net margin of 2.08% and a negative return on equity of 3.66%. Sprint Corporation’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Counselors Inc. boosted its holdings in Sprint Corporation by 1.7% during the second quarter. Financial Counselors Inc. now owns 12,173 shares of the cell phone carrier’s stock worth $100,000 after purchasing an additional 201 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Sprint Corporation by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 14,809 shares of the cell phone carrier’s stock worth $122,000 after purchasing an additional 318 shares during the last quarter. Ronald Blue & Co. LLC boosted its holdings in Sprint Corporation by 1.5% during the second quarter. Ronald Blue & Co. LLC now owns 21,648 shares of the cell phone carrier’s stock worth $178,000 after purchasing an additional 326 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Sprint Corporation by 1.9% during the first quarter. Pacer Advisors Inc. now owns 25,756 shares of the cell phone carrier’s stock worth $223,000 after purchasing an additional 483 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Sprint Corporation by 1.2% during the second quarter. Advisory Services Network LLC now owns 69,627 shares of the cell phone carrier’s stock worth $572,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 13.95% of the company’s stock.

Sprint Corporation Company Profile

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.

Analyst Recommendations for Sprint Corporation (NYSE:S)

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