Sprint Corp (S) is Downgraded by Pacific Crest to Underweight

Sprint Corp (S) was Downgraded by Pacific Crest to ” Underweight”. Earlier the firm had a rating of “Sector Weight ” on the company shares. Pacific Crest advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Sprint Corp. Sprint Corp was Initiated by Macquarie to “Outperform” on Apr 5, 2016. Deutsche Bank Initiated Sprint Corp on Feb 24, 2016 to “Hold”, Price Target of the shares are set at $3.Sprint Corp was Downgraded by HSBC Securities to ” Reduce” on Feb 12, 2016.

On the company’s financial health, Sprint Corp reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $-0.26. The company had revenue of $8107.00 million for the quarter, compared to analysts expectations of $8211.53 million. The company’s revenue was down -9.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.60 EPS.

Sprint Corp closed down -0.07 points or -2.00% at $3.43 with 94,21,368 shares getting traded on Monday. Post opening the session at $3.52, the shares hit an intraday low of $3.43 and an intraday high of $3.54 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 3, 2016, Paul W Jr Schieber (Vice President & Controller) sold 19,229 shares at $3.72 per share price. According to the SEC, on Aug 18, 2015, Jaime Jones (President, Postpaid & Gen Bus) sold 38,879 shares at $4.72 per share price. On Aug 11, 2015, Nikesh Arora (director) purchased 51,187 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Sprint Corporation is a holding company. The Company along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks an all-digital global wireline network and a Tier 1 Internet backbone. It offers wireless and wireline services to subscribers in all 50 states Puerto Rico and the United States Virgin Islands under the Sprint corporate brand which includes its retail brands of Sprint Boost Mobile Virgin Mobile and Assurance Wireless. It markets its postpaid services under the Sprint brand. It markets its prepaid services under the Sprint Boost Mobile Virgin Mobile and Assurance Wireless brands. In addition it sells accessories such as carrying cases hands-free devices and and it sells devices and accessories to agents and other third-party distributors for resale.

Sprint Corp

Leave a Reply

Sprint Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Sprint Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.