Shares of Sprint Corp (NYSE:S) saw unusually-strong trading volume on Tuesday following a better than expected earnings announcement, MarketBeat Ratings reports. Approximately 46,367,761 shares traded hands during mid-day trading, an increase of 100% from the previous session’s volume of 23,148,001 shares.The stock last traded at $3.09 and had previously closed at $2.52.

The cell phone carrier reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The firm earned $8.10 billion during the quarter, compared to analyst estimates of $8.69 billion. The business’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share.

Several equities analysts have weighed in on S shares. Wells Fargo reaffirmed a “buy” rating on shares of Sprint Corp in a research report on Tuesday, October 20th. Vetr raised Sprint Corp from a “buy” rating to a “strong-buy” rating and set a $4.76 target price for the company in a research report on Monday, December 14th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Sprint Corp in a research report on Friday. Moffett Nathanson reaffirmed a “sell” rating on shares of Sprint Corp in a research report on Friday, October 9th. Finally, Citigroup Inc. lifted their target price on Sprint Corp from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned 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 an average target price of $4.30.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Fourth Swedish National Pension Fund boosted its position in Sprint Corp by 1.7% in the fourth quarter. Fourth Swedish National Pension Fund now owns 231,102 shares of the cell phone carrier’s stock valued at $837,000 after buying an additional 3,965 shares during the last quarter. IMS Capital Management boosted its position in Sprint Corp by 3.3% in the fourth quarter. IMS Capital Management now owns 192,686 shares of the cell phone carrier’s stock valued at $698,000 after buying an additional 6,155 shares during the last quarter. Creative Planning boosted its position in Sprint Corp by 6.5% in the fourth quarter. Creative Planning now owns 196,492 shares of the cell phone carrier’s stock valued at $711,000 after buying an additional 12,045 shares during the last quarter. Taylor Wealth Management Partners acquired a new position in Sprint Corp during the fourth quarter valued at about $0. Finally, Janus Capital Management boosted its position in Sprint Corp by 71.0% in the third quarter. Janus Capital Management now owns 263,685 shares of the cell phone carrier’s stock valued at $1,013,000 after buying an additional 109,491 shares during the last quarter.

The stock has a 50-day moving average of $3.43 and a 200-day moving average of $4.04. The firm’s market capitalization is $12.21 billion.

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. It offers wireless and wireline services to subscribers in all 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. It markets its postpaid services under the Sprint brand. It markets its prepaid services under the Sprint, Boost Mobile, Virgin Mobile and Assurance Wireless brands. In addition, it sells accessories, such as carrying cases, hands-free devices and and it sells devices and accessories to agents and other third-party distributors for resale.

12 Month Chart for NYSE:S

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