Sprint (NYSE:S) Shares Gap Up to $9.48

Sprint Corp (NYSE:S)’s share price gapped up prior to trading on Friday . The stock had previously closed at $8.85, but opened at $9.48. Sprint shares last traded at $10.05, with a volume of 111,243,367 shares changing hands.

Several analysts recently weighed in on the stock. TheStreet downgraded shares of Sprint from a “c-” rating to a “d+” rating in a report on Tuesday, December 3rd. Citigroup lifted their target price on shares of Sprint from $5.50 to $9.50 and gave the company a “neutral” rating in a report on Wednesday. HSBC upgraded shares of Sprint from a “reduce” rating to a “hold” rating in a report on Wednesday, February 12th. Royal Bank of Canada restated a “hold” rating and issued a $5.00 price target on shares of Sprint in a research note on Thursday, January 30th. Finally, ValuEngine downgraded shares of Sprint from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $7.51.

The firm has a market capitalization of $39.02 billion, a PE ratio of -15.23 and a beta of 0.26. The company’s 50-day moving average price is $5.64 and its 200-day moving average price is $6.05. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.67 and a current ratio of 0.76.

Sprint (NYSE:S) last announced its quarterly earnings results on Monday, January 27th. The cell phone carrier reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Sprint had a negative net margin of 8.25% and a negative return on equity of 2.61%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.19 billion. During the same period in the previous year, the company earned ($0.03) earnings per share. Sprint’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that Sprint Corp will post -0.16 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Sprint by 6.7% in the fourth quarter. Renaissance Technologies LLC now owns 90,053,960 shares of the cell phone carrier’s stock valued at $469,181,000 after buying an additional 5,693,024 shares during the last quarter. FMR LLC raised its holdings in shares of Sprint by 20.6% in the fourth quarter. FMR LLC now owns 36,242,593 shares of the cell phone carrier’s stock valued at $188,824,000 after buying an additional 6,186,788 shares during the last quarter. State Street Corp raised its holdings in shares of Sprint by 16.4% in the third quarter. State Street Corp now owns 20,061,352 shares of the cell phone carrier’s stock valued at $123,779,000 after buying an additional 2,829,055 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Sprint by 6.7% in the fourth quarter. First Trust Advisors LP now owns 7,836,759 shares of the cell phone carrier’s stock valued at $40,830,000 after buying an additional 495,041 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Sprint by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 6,189,908 shares of the cell phone carrier’s stock valued at $32,208,000 after buying an additional 268,631 shares during the last quarter. 14.23% of the stock is owned by institutional investors and hedge funds.

About Sprint (NYSE:S)

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.

Featured Article: Why are percentage decliners important?

Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.