Sprint’s (NYSE:S) “Hold” Rating Reaffirmed at Cowen

Cowen reiterated their hold rating on shares of Sprint (NYSE:S) in a research note published on Monday, February 4th. Cowen currently has a $4.50 price target on the cell phone carrier’s stock.

S has been the subject of several other reports. Zacks Investment Research downgraded shares of Sprint from a buy rating to a hold rating in a research note on Monday, October 8th. ValuEngine upgraded shares of Sprint from a hold rating to a buy rating in a research note on Tuesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Sprint currently has a consensus rating of Hold and an average target price of $5.83.

S stock traded up $0.05 during trading on Monday, hitting $6.40. 9,734,893 shares of the company’s stock traded hands, compared to its average volume of 13,942,483. The firm has a market cap of $25.78 billion, a price-to-earnings ratio of 91.43, a PEG ratio of 7.18 and a beta of 0.53. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 1.28. Sprint has a 1 year low of $4.81 and a 1 year high of $6.62.

Sprint (NYSE:S) last released its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Sprint had a return on equity of 1.08% and a net margin of 0.90%. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. Analysts anticipate that Sprint will post 0.03 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in S. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in Sprint during the 4th quarter valued at about $207,000. Millennium Management LLC grew its stake in Sprint by 65.2% during the 4th quarter. Millennium Management LLC now owns 7,504,689 shares of the cell phone carrier’s stock valued at $43,677,000 after acquiring an additional 2,962,560 shares in the last quarter. Legal & General Group Plc grew its stake in Sprint by 6.7% during the 4th quarter. Legal & General Group Plc now owns 3,678,163 shares of the cell phone carrier’s stock valued at $21,407,000 after acquiring an additional 230,362 shares in the last quarter. Alpine Associates Management Inc. grew its stake in Sprint by 50.7% during the 4th quarter. Alpine Associates Management Inc. now owns 10,860,532 shares of the cell phone carrier’s stock valued at $63,208,000 after acquiring an additional 3,654,532 shares in the last quarter. Finally, Paloma Partners Management Co grew its stake in Sprint by 30.8% during the 4th quarter. Paloma Partners Management Co now owns 186,482 shares of the cell phone carrier’s stock valued at $1,085,000 after acquiring an additional 43,871 shares in the last quarter. 13.05% of the stock is owned by institutional investors and hedge funds.

About Sprint

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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