Analysts Anticipate Sprint Corp (NYSE:S) Will Announce Quarterly Sales of $8.05 Billion

Brokerages forecast that Sprint Corp (NYSE:S) will announce $8.05 billion in sales for the current quarter, according to Zacks. Fourteen analysts have issued estimates for Sprint’s earnings. The highest sales estimate is $8.42 billion and the lowest is $7.77 billion. Sprint reported sales of $8.13 billion during the same quarter last year, which indicates a negative year over year growth rate of 1%. The firm is expected to announce its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Sprint will report full year sales of $32.88 billion for the current financial year, with estimates ranging from $31.65 billion to $34.19 billion. For the next financial year, analysts forecast that the business will post sales of $32.59 billion, with estimates ranging from $31.42 billion to $35.20 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Sprint.

Sprint (NYSE:S) last released its earnings results on Tuesday, May 7th. The cell phone carrier reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.19 billion. Sprint had a negative net margin of 5.78% and a positive return on equity of 0.21%. Sprint’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS.



Several equities research analysts have weighed in on the stock. Raymond James assumed coverage on shares of PennantPark Investment in a research note on Monday, April 29th. They issued an “outperform” rating and a $8.00 price target for the company. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Macquarie reissued a “hold” rating and set a $5.50 target price on shares of Sprint in a research report on Sunday, May 12th. Finally, New Street Research assumed coverage on shares of Uber Technologies in a research report on Thursday, May 23rd. They set a “buy” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Sprint currently has a consensus rating of “Hold” and a consensus price target of $5.64.

In other Sprint news, insider John Saw sold 7,419 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $7.05, for a total value of $52,303.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 92,729 shares of company stock worth $583,389. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in shares of Sprint by 21.9% during the fourth quarter. Raymond James & Associates now owns 106,207 shares of the cell phone carrier’s stock valued at $618,000 after buying an additional 19,091 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Sprint by 79.2% during the fourth quarter. Advisor Group Inc. now owns 28,080 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 12,409 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Sprint by 2.6% during the fourth quarter. Northern Trust Corp now owns 5,571,151 shares of the cell phone carrier’s stock valued at $32,425,000 after buying an additional 140,090 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Sprint by 12.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 174,706 shares of the cell phone carrier’s stock valued at $1,017,000 after buying an additional 19,000 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Sprint by 11.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 274,877 shares of the cell phone carrier’s stock valued at $1,600,000 after buying an additional 27,517 shares in the last quarter. Institutional investors own 12.96% of the company’s stock.

S stock traded up $0.03 during midday trading on Friday, hitting $6.95. The stock had a trading volume of 27,567,878 shares, compared to its average volume of 17,132,452. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 695.00 and a beta of 0.13. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. Sprint has a 1-year low of $5.35 and a 1-year high of $7.90. The company’s fifty day moving average price is $6.93.

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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