Sprint (NYSE:S) Announces Earnings Results

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Sprint (NYSE:S) released its quarterly earnings data on Tuesday, May 7th. The cell phone carrier reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02), Morningstar.com reports. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a positive return on equity of 0.21% and a negative net margin of 5.78%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share.

NYSE:S traded up $0.11 on Thursday, hitting $6.18. 118,341 shares of the company’s stock were exchanged, compared to its average volume of 15,109,111. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.98. Sprint has a 52 week low of $5.04 and a 52 week high of $6.61. The stock has a market capitalization of $24.50 billion, a PE ratio of 618.50 and a beta of 0.47.

In other news, CTO John Saw sold 62,444 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $5.96, for a total value of $372,166.24. Following the sale, the chief technology officer now directly owns 1,090,096 shares of the company’s stock, valued at approximately $6,496,972.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in Sprint by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 3,868,623 shares of the cell phone carrier’s stock worth $25,302,000 after acquiring an additional 220,660 shares during the period. Morgan Stanley raised its position in Sprint by 145.5% in the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock worth $56,275,000 after acquiring an additional 5,100,266 shares during the period. Federated Investors Inc. PA raised its position in Sprint by 132.6% in the third quarter. Federated Investors Inc. PA now owns 40,740 shares of the cell phone carrier’s stock worth $266,000 after acquiring an additional 23,224 shares during the period. Cumberland Advisors Inc. bought a new stake in Sprint in the fourth quarter worth about $774,000. Finally, DNB Asset Management AS raised its position in Sprint by 187.8% in the fourth quarter. DNB Asset Management AS now owns 330,120 shares of the cell phone carrier’s stock worth $1,921,000 after acquiring an additional 215,400 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Several equities research analysts have recently issued reports on S shares. ValuEngine raised Sprint from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Cowen restated a “hold” rating and issued a $4.50 price objective on shares of Sprint in a research report on Monday, February 4th. Macquarie reiterated a “hold” rating and set a $5.50 target price on shares of Sprint in a research report on Sunday. Raymond James cut 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 report on Monday, April 29th. Finally, William Blair reaffirmed an “underperform” rating on shares of Sprint in a research note on Monday, February 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.71.

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Sprint Company Profile

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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