Sprint (S) Bonds Rise 1.6% During Trading

An issue of Sprint Corp (NYSE:S) bonds rose 1.6% against their face value during trading on Wednesday. The high-yield debt issue has a 6.875% coupon and is set to mature on November 15, 2028. The debt is now trading at $105.50 and was trading at $103.75 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Several equities analysts have commented on S shares. Barclays reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Sprint in a research report on Friday. Vetr downgraded Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective on the stock. in a research report on Thursday, January 4th. KeyCorp set a $5.00 price objective on Sprint and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. TheStreet downgraded Sprint from a “c-” rating to a “d+” rating in a research report on Tuesday, December 19th. Finally, Deutsche Bank cut their price objective on Sprint to $5.50 and set a “hold” rating on the stock in a research report on Monday, December 11th. Seven equities research 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 an average rating of “Hold” and a consensus price target of $6.52.

Shares of Sprint Corp (NYSE:S) traded down $0.15 during mid-day trading on Friday, hitting $5.34. The company’s stock had a trading volume of 27,041,900 shares, compared to its average volume of 19,153,934. Sprint Corp has a twelve month low of $5.24 and a twelve month high of $9.65. The stock has a market cap of $21,540.00, a PE ratio of -35.60 and a beta of 0.79. 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 issued its earnings results on Wednesday, October 25th. The cell phone carrier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Sprint had a negative return on equity of 3.19% and a negative net margin of 1.82%. The business had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. analysts forecast that Sprint Corp will post -0.01 EPS for the current fiscal year.

In related news, insider Jorge Enrique Gracia sold 112,959 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $6.18, for a total transaction of $698,086.62. Following the completion of the sale, the insider now directly owns 858,383 shares in the company, valued at approximately $5,304,806.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Group Corp Softbank acquired 6,484,367 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were bought 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 quarter, insiders acquired 72,408,783 shares of company stock valued at $421,783,446 and sold 913,236 shares valued at $5,377,413. 0.18% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Sprint by 0.8% in the second quarter. Vanguard Group Inc. now owns 37,971,867 shares of the cell phone carrier’s stock valued at $311,749,000 after buying an additional 301,765 shares during the last quarter. Odey Asset Management Group Ltd raised its stake in Sprint by 107.3% in the second quarter. Odey Asset Management Group Ltd now owns 8,124,955 shares of the cell phone carrier’s stock valued at $66,706,000 after buying an additional 4,204,955 shares during the last quarter. Janus Henderson Group PLC raised its stake in Sprint by 6,509.8% in the second quarter. Janus Henderson Group PLC now owns 7,179,430 shares of the cell phone carrier’s stock valued at $58,944,000 after buying an additional 7,070,812 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Sprint by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,075,012 shares of the cell phone carrier’s stock valued at $58,083,000 after buying an additional 50,302 shares during the last quarter. Finally, FMR LLC raised its stake in Sprint by 3.1% in the second quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock valued at $31,492,000 after buying an additional 115,192 shares during the last quarter. Hedge funds and other institutional investors own 13.74% of the company’s stock.

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Sprint 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.

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