Sprint (S) Bonds Rise 1% During Trading

An issue of Sprint Corp (NYSE:S) bonds rose 1% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 7.25% coupon and will mature on September 15, 2021. The debt is now trading at $103.50 and was trading at $103.69 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

S has been the subject of several research reports. Macquarie lowered shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research report on Tuesday, January 23rd. Deutsche Bank reduced their price objective on shares of Sprint to $5.50 and set a “hold” rating for the company in a research report on Monday, December 11th. Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 price objective for the company. in a research report on Thursday, January 4th. Barclays restated a “hold” rating and set a $5.00 price objective on shares of Sprint in a research report on Friday, January 19th. Finally, Bank of America raised their price objective on shares of Sprint from $2.60 to $3.00 and gave the company an “underperform” rating in a research report on Monday, February 5th. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Sprint currently has a consensus rating of “Hold” and an average price target of $6.02.

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Sprint Corp (S) traded up $0.09 during mid-day trading on Monday, reaching $5.01. 7,687,100 shares of the company’s stock were exchanged, compared to its average volume of 15,169,315. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $19,694.95, a price-to-earnings ratio of 2.90 and a beta of 0.64. Sprint Corp has a 52 week low of $4.88 and a 52 week high of $9.22.

Sprint (NYSE:S) last posted its quarterly earnings results on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. analysts forecast that Sprint Corp will post 1.75 EPS for the current year.

In related news, major shareholder Group Corp Softbank purchased 4,243,452 shares of Sprint stock in a transaction dated Friday, December 29th. The stock was acquired at an average cost of $5.94 per share, with a total value of $25,206,104.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 37,827,608 shares of company stock valued at $219,274,536 over the last three months. 0.18% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Westside Investment Management Inc. lifted its position in shares of Sprint by 872.7% in the fourth quarter. Westside Investment Management Inc. now owns 17,490 shares of the cell phone carrier’s stock worth $101,000 after purchasing an additional 15,692 shares in the last quarter. BancorpSouth Bank purchased a new stake in shares of Sprint in the fourth quarter worth approximately $104,000. Crossmark Global Holdings Inc. bought a new position in Sprint during the third quarter valued at approximately $141,000. Americafirst Capital Management LLC bought a new position in Sprint during the third quarter valued at approximately $156,000. Finally, Capital Bank & Trust Co raised its position in Sprint by 10,821.7% during the third quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock valued at $168,000 after acquiring an additional 21,427 shares in the last quarter. 13.64% of the stock is owned by institutional investors and hedge funds.

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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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