Sprint Corp. (NYSE:S) had its price objective upped by Citigroup Inc. from $6.00 to $7.00 in a research report released on Thursday morning. Citigroup Inc. currently has a neutral rating on the cell phone carrier’s stock.

Several other research firms have also commented on S. Macquarie reiterated an outperform rating and issued a $5.50 price target on shares of Sprint Corp. in a research report on Friday, July 15th. Morgan Stanley raised their target price on shares of Sprint Corp. from $3.00 to $4.40 and gave the stock an underweight rating in a research report on Thursday, July 28th. Wells Fargo & Co. restated an outperform rating and set a $9.00 target price on shares of Sprint Corp. in a research report on Sunday, August 21st. Buckingham Research lowered shares of Sprint Corp. from a neutral rating to an underperform rating and decreased their target price for the stock from $5.00 to $3.50 in a research report on Thursday, August 25th. They noted that the move was a valuation call. Finally, Robert W. Baird restated a neutral rating and set a $3.00 target price on shares of Sprint Corp. in a research report on Tuesday, June 28th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $4.48.

Sprint Corp. (NYSE:S) opened at 6.21 on Thursday. Sprint Corp. has a 1-year low of $2.18 and a 1-year high of $7.03. The firm’s 50 day moving average price is $6.28 and its 200-day moving average price is $4.54. The stock’s market cap is $24.71 billion.

Sprint Corp. (NYSE:S) last issued its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.00. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. The company earned $8 billion during the quarter, compared to analysts’ expectations of $8.69 billion. During the same period last year, the company posted ($0.46) earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Sprint Corp. will post ($0.83) earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY raised its position in Sprint Corp. by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,411 shares of the cell phone carrier’s stock worth $102,000 after buying an additional 758 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Sprint Corp. by 16.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,415 shares of the cell phone carrier’s stock worth $115,000 after buying an additional 3,612 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Sprint Corp. by 4.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,155 shares of the cell phone carrier’s stock worth $119,000 after buying an additional 1,000 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in Sprint Corp. by 2.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 27,801 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 600 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in Sprint Corp. by 169.5% in the second quarter. Alps Advisors Inc. now owns 30,795 shares of the cell phone carrier’s stock worth $140,000 after buying an additional 19,369 shares during the last quarter. 14.92% of the stock is owned by institutional investors and hedge funds.

About Sprint Corp.

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.

5 Day Chart for NYSE:S

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