Sprint Corp (S) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-0.14 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.13. The company posted revenue of $8071.00 million in the period, compared to analysts expectations of $7988.99 million. The company’s revenue was down -2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Many Wall Street Analysts have commented on Sprint Corp. Sprint Corp was Downgraded by Pacific Crest to ” Underweight” on Apr 13, 2016. 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 opened for trading at $3.46 and hit $3.53 on the upside on Monday, eventually ending the session at $3.49, with a gain of 1.75% or 0.06 points. The heightened volatility saw the trading volume jump to 2,36,56,859 shares. Company has a market cap of $13,860 M.
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.