Sprint Corp to Post FY2018 Earnings of $1.77 Per Share, Jefferies Group Forecasts (S)
Sprint Corp (NYSE:S) – Jefferies Group issued their FY2018 earnings estimates for shares of Sprint in a research report issued on Monday. Jefferies Group analyst S. Goldman expects that the cell phone carrier will earn $1.77 per share for the year. Jefferies Group has a “Underperform” rating and a $4.50 price target on the stock. Jefferies Group also issued estimates for Sprint’s Q4 2018 earnings at ($0.05) EPS, Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at ($0.06) EPS, Q4 2019 earnings at $0.02 EPS, FY2019 earnings at ($0.06) EPS and FY2020 earnings at $0.02 EPS.
Sprint (NYSE:S) last issued its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.46) EPS.
Shares of Sprint (S) traded down $0.13 during trading on Wednesday, reaching $5.24. 13,617,883 shares of the company’s stock were exchanged, compared to its average volume of 19,445,621. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $20,640.00, a P/E ratio of 2.98 and a beta of 0.64. Sprint has a fifty-two week low of $4.91 and a fifty-two week high of $9.44.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Sprint by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,595,501 shares of the cell phone carrier’s stock worth $27,973,000 after purchasing an additional 54,865 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Sprint by 3.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 954,107 shares of the cell phone carrier’s stock worth $7,423,000 after purchasing an additional 35,910 shares in the last quarter. Stifel Financial Corp boosted its stake in Sprint by 39.4% in the 3rd quarter. Stifel Financial Corp now owns 230,782 shares of the cell phone carrier’s stock worth $1,797,000 after purchasing an additional 65,224 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Sprint by 21.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,399,854 shares of the cell phone carrier’s stock worth $10,891,000 after purchasing an additional 251,351 shares in the last quarter. Finally, FMR LLC boosted its stake in Sprint by 3.1% in the 2nd quarter. FMR LLC now owns 3,835,837 shares of the cell phone carrier’s stock worth $31,492,000 after purchasing an additional 115,192 shares in the last quarter. Institutional investors own 13.76% of the company’s stock.
In other news, major shareholder Group Corp Softbank purchased 3,203,661 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $6.12 per share, for a total transaction of $19,606,405.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total transaction of $826,795.34. Following the completion of the transaction, the vice president now owns 204,168 shares in the company, valued at approximately $1,171,924.32. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 61,601,426 shares of company stock worth $356,550,225 and have sold 913,236 shares worth $5,377,413. Insiders own 0.18% of the company’s stock.
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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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