The FY2018 Earnings Estimate for Sprint Corp. (S) Issued By Oppenheimer Holdings

The FY2018 Earnings Estimate for Sprint Corp. (S) Issued By Oppenheimer Holdings

Sprint Corp. (NYSE:S) – Research analysts at Oppenheimer Holdings increased their FY2018 earnings estimates for shares of Sprint Corp. in a note issued to investors on Wednesday. Oppenheimer Holdings analyst T. Horan now expects that the brokerage will earn $0.13 per share for the year, up from their prior estimate of $0.12.

A number of other research analysts have also weighed in on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Sprint Corp. in a report on Monday, November 14th. Macquarie reaffirmed an “outperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of Sprint Corp. in a report on Thursday, October 13th. Citigroup Inc. reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Sprint Corp. in a report on Wednesday, October 26th. Zacks Investment Research lowered Sprint Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Finally, FBR & Co upped their price objective on Sprint Corp. from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, October 19th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.03.

Sprint Corp. (NYSE:S) traded down 0.45% on Thursday, hitting $8.93. The stock had a trading volume of 26,215,807 shares. The stock’s market cap is $35.55 billion. Sprint Corp. has a one year low of $2.18 and a one year high of $9.09. The stock’s 50 day moving average is $8.42 and its 200 day moving average is $6.74.

Sprint Corp. (NYSE:S) last posted its quarterly earnings results on Tuesday, October 25th. The cell phone carrier reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Sprint Corp. had a negative return on equity of 8.91% and a negative net margin of 5.65%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.69 billion. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year.

A number of large investors have recently made changes to their positions in S. Bank of Montreal Can raised its stake in shares of Sprint Corp. by 36.2% in the third quarter. Bank of Montreal Can now owns 7,499,074 shares of the cell phone carrier’s stock valued at $49,720,000 after buying an additional 1,994,270 shares in the last quarter. British Columbia Investment Management Corp raised its stake in shares of Sprint Corp. by 279.0% in the third quarter. British Columbia Investment Management Corp now owns 749,712 shares of the cell phone carrier’s stock valued at $4,971,000 after buying an additional 551,893 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Sprint Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 1,662,955 shares of the cell phone carrier’s stock valued at $11,025,000 after buying an additional 14,100 shares in the last quarter. Morgan Stanley raised its stake in shares of Sprint Corp. by 54.0% in the third quarter. Morgan Stanley now owns 14,231,691 shares of the cell phone carrier’s stock valued at $94,356,000 after buying an additional 4,990,833 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Sprint Corp. by 17.6% in the third quarter. TIAA CREF Investment Management LLC now owns 3,750,019 shares of the cell phone carrier’s stock valued at $24,863,000 after buying an additional 562,052 shares in the last quarter. Institutional investors own 14.61% of the company’s stock.

In related news, insider Roger Sole-Rafols sold 49,844 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $7.53, for a total transaction of $375,325.32. Following the transaction, the insider now directly owns 1,516,241 shares in the company, valued at $11,417,294.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul W. Schieber, Jr. sold 52,375 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $7.36, for a total value of $385,480.00. Following the transaction, the vice president now owns 205,808 shares in the company, valued at $1,514,746.88. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

About Sprint Corp.

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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