Sprint Corp (S) Expected to Post Quarterly Sales of $8.17 Billion

Wall Street analysts forecast that Sprint Corp (NYSE:S) will announce sales of $8.17 billion for the current quarter, Zacks reports. Thirteen analysts have issued estimates for Sprint’s earnings. The highest sales estimate is $8.40 billion and the lowest is $7.97 billion. Sprint reported sales of $8.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 1st.

On average, analysts expect that Sprint will report full-year sales of $33.33 billion for the current fiscal year, with estimates ranging from $33.13 billion to $33.55 billion. For the next year, analysts forecast that the firm will report sales of $33.18 billion, with estimates ranging from $32.38 billion to $34.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Sprint.

Sprint (NYSE:S) last released its quarterly earnings results on Thursday, January 31st. The cell phone carrier reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.40 billion. Sprint had a return on equity of 1.08% and a net margin of 0.90%. During the same quarter in the prior year, the company earned $1.76 EPS.

S has been the subject of several research analyst reports. ValuEngine upgraded Sprint from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Cowen reissued a “hold” rating and set a $4.50 price target on shares of Sprint in a research report on Monday, February 4th. Finally, William Blair reissued an “underperform” rating on shares of Sprint in a research report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Sprint presently has a consensus rating of “Hold” and an average price target of $5.94.

Several large investors have recently added to or reduced their stakes in S. Norges Bank bought a new position in shares of Sprint in the fourth quarter worth $80,633,000. Morgan Stanley boosted its stake in Sprint by 145.5% during the third quarter. Morgan Stanley now owns 8,604,661 shares of the cell phone carrier’s stock valued at $56,275,000 after buying an additional 5,100,266 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Sprint by 821.9% during the fourth quarter. Hsbc Holdings PLC now owns 4,946,122 shares of the cell phone carrier’s stock valued at $28,787,000 after buying an additional 4,409,623 shares in the last quarter. Alpine Associates Management Inc. boosted its stake in Sprint by 50.7% during the fourth quarter. Alpine Associates Management Inc. now owns 10,860,532 shares of the cell phone carrier’s stock valued at $63,208,000 after buying an additional 3,654,532 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Sprint by 65.2% during the fourth quarter. Millennium Management LLC now owns 7,504,689 shares of the cell phone carrier’s stock valued at $43,677,000 after buying an additional 2,962,560 shares in the last quarter. 13.46% of the stock is owned by institutional investors.

Shares of Sprint stock traded up $0.13 on Friday, hitting $5.77. 12,245,036 shares of the company’s stock traded hands, compared to its average volume of 14,320,590. The stock has a market cap of $23.10 billion, a P/E ratio of 82.43, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 1.28. Sprint has a 52-week low of $5.04 and a 52-week high of $6.62.

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.

Recommended Story: How to identify percentage decliners

Get a free copy of the Zacks research report on Sprint (S)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sprint (NYSE:S)

Receive News & Ratings for Sprint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprint and related companies with MarketBeat.com's FREE daily email newsletter.