Sprint Corp (S) is Downgraded by Buckingham Research to Underperform

Sprint Corp (S) was Downgraded by Buckingham Research to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Buckingham Research advised their investors in a research report released on Aug 25, 2016.

Many Wall Street Analysts have commented on Sprint Corp. Company shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .Sprint Corp was Upgraded by Pacific Crest to ” Sector Weight” on Jul 26, 2016. Company shares were Reiterated by FBR Capital on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .

On the company’s financial health, Sprint Corp reported $-0.08 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $-0.08. The company had revenue of $8012.00 million for the quarter, compared to analysts expectations of $7987.04 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Sprint Corp opened for trading at $6.04 and hit $6.16 on the upside on Tuesday, eventually ending the session at $6.12, with a gain of 1.32% or 0.08 points. The heightened volatility saw the trading volume jump to 1,66,28,172 shares. Company has a market cap of $24,348 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.

Sprint Corp

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