Sprint Corp. (NYSE:S) major shareholder Corp Softbank bought 3,885,360 shares of the stock in a transaction that occured on Thursday, August 8th. The stock was purchased at an average price of $6.88 per share, for a total transaction of $26,731,276.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on S shares. Analysts at RBC Capital cut their price target on shares of Sprint Corp. from $7.00 to $6.00 in a research note to investors on Thursday, August 1st. They now have a “sector perform” rating on the stock. Separately, analysts at Macquarie cut their price target on shares of Sprint Corp. from $6.50 to $6.30 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Sprint Corp. from $7.00 to $6.50 in a research note to investors on Thursday, August 1st. They now have a “hold” rating on the stock.
Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.95.
Sprint Corp. (NYSE:S) last released its earnings data on Tuesday, July 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.25. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the previous year, the company posted ($0.46) earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts expect that Sprint Corp. will post $-1.15 EPS for the current fiscal year.
Sprint Nextel Corporation (NYSE:S), is a holding company, with its operations primarily conducted by its subsidiaries.