Price Action Report: Sprint Corp Just Reaches 52-Week High?

Price Action Report: Sprint Corp Just Reaches 52 Week High?

The stock of Sprint Corp (NYSE:S) hit a new 52-week high and has $8.52 target or 8.00% above today’s $7.89 share price. The 8 months bullish chart indicates low risk for the $31.58B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $8.52 price target is reached, the company will be worth $2.53B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.60% or $0.2 during the last trading session, hitting $7.89. About 9.12M shares traded hands. Sprint Corp (NYSE:S) has risen 105.61% since April 22, 2016 and is uptrending. It has outperformed by 100.21% the S&P500.

Analysts await Sprint Corp (NYSE:S) to report earnings on January, 24. They expect $-0.07 earnings per share, up 66.67% or $0.14 from last year’s $-0.21 per share. After $-0.04 actual earnings per share reported by Sprint Corp for the previous quarter, Wall Street now forecasts 75.00% negative EPS growth.

Sprint Corp (NYSE:S) Ratings Coverage

Out of 20 analysts covering Sprint Nextel Corporation (NYSE:S), 4 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 20% are positive. Sprint Nextel Corporation has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was initiated by DA Davidson on Thursday, October 1 with “Neutral”. The rating was downgraded by HSBC on Friday, November 6 to “Hold”. The company was upgraded on Wednesday, January 27 by Oppenheimer. The stock of Sprint Corp (NYSE:S) has “Strong-Buy” rating given on Monday, September 21 by Vetr. The stock of Sprint Corp (NYSE:S) has “Outperform” rating given on Tuesday, July 26 by FBR Capital. The stock has “Outperform” rating given by Wells Fargo on Wednesday, August 5. As per Tuesday, April 5, the company rating was initiated by Macquarie Research. On Tuesday, July 26 the stock rating was maintained by Oppenheimer with “Perform”. The firm has “Underweight” rating by Pacifc Crest given on Wednesday, April 13. The firm has “Hold” rating given on Friday, September 4 by Vetr.

According to Zacks Investment Research, “Sprint Corporation offers communications services. It operates in two segments: Wireless and Wireline. It develops, engineers and deploys technologies, including wireless networks offering mobile data services, instant national and international push-to-talk capabilities and a global Tier 1 Internet backbone. Sprint Corporation is based in Overland Park, United States.”

Insitutional Activity: The institutional sentiment decreased to 1.12 in Q2 2016. Its down 0.01, from 1.13 in 2016Q1. The ratio fall, as 34 funds sold all Sprint Corp shares owned while 71 reduced positions. 26 funds bought stakes while 93 increased positions. They now own 582.06 million shares or 3.35% more from 563.17 million shares in 2016Q1.
Moreover, Credit Suisse Ag has 0.01% invested in Sprint Corp (NYSE:S) for 2.25M shares. Caisse De Depot Et Placement Du Quebec holds 4.85 million shares or 0.06% of its portfolio. Meiji Yasuda Asset Management Ltd last reported 22,993 shares in the company. First Quadrant Ltd Partnership Ca holds 30,200 shares or 0% of its portfolio. Northern Tru Corporation holds 0.01% of its portfolio in Sprint Corp (NYSE:S) for 3.96M shares. Janus Mgmt Llc reported 1.13M shares or 0% of all its holdings. Gmt Capital Corporation has invested 0.08% of its portfolio in Sprint Corp (NYSE:S). Capstone Advsrs Limited Liability Corporation holds 0% or 38,144 shares in its portfolio. Moreover, Kwmg Ltd Liability Co has 0.04% invested in Sprint Corp (NYSE:S) for 17,248 shares. Sumitomo Mitsui Asset Mgmt Limited holds 0.01% of its portfolio in Sprint Corp (NYSE:S) for 51,809 shares. Dodge & Cox holds 0.82% of its portfolio in Sprint Corp (NYSE:S) for 184.34M shares. Valueworks Ltd Liability holds 1.36% or 456,898 shares in its portfolio. The California-based Affinity Advsrs Llc has invested 0.31% in Sprint Corp (NYSE:S). The Japan-based Sumitomo Mitsui Holdings has invested 0.02% in Sprint Corp (NYSE:S). Omers Administration holds 0.01% of its portfolio in Sprint Corp (NYSE:S) for 58,900 shares.

Insider Transactions: Since November 14, 2016, the stock had 0 buys, and 2 insider sales for $761,160 net activity. SOLE-RAFOLS ROGER sold $375,455 worth of Sprint Corp (NYSE:S) on Wednesday, November 16. 52,375 shares were sold by SCHIEBER PAUL W JR, worth $385,705 on Monday, November 14.

Another recent and important Sprint Corp (NYSE:S) news was published by Investorplace.com which published an article titled: “Trade of the Day: Sprint Corp (NYSE:S)” on November 15, 2016.

S Company Profile

Sprint Corporation (Sprint), incorporated on October 5, 2012, is a holding company. The Company, along with its subsidiaries, is a communications firm offering a range of wireless and wireline communications services and products that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two divisions: Wireless and Wireline. The Firm offers wireless and wireline services to subscribers in approximately 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 on its wireless networks utilizing various technologies, including third generation (3G) code division multiple access (CDMA), fourth generation (4G) services utilizing Long Term Evolution (LTE).

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