Sprint Corp (NYSE:S) has revised its package rates in a bid to try and attract more customers to its service. The company has been making some drastic changes, both inside the company and in the business itself. As the company nears its scheduled earnings result date, March 3rd, analysts have started to weigh in on the stock. At its current pace, analysts expect Sprint to announce an EPS of -$0.17, which would mean a negative growth rate of 183.3%.
Sprint Corp has yet to find a strong footing in the telecom industry, which is already dominated by the likes of Verizon and AT&T. Additionally, the company is also known to be tied up in high yield debts. Recently, Masayoshi Son, the CEO of SoftBank and the holder of a $22 billion stake in Sprint, has made significant progress with SoftBank. Whether or not he can do the same for Sprint is yet to be seen. In a recent earnings call from SoftBank, Son reaffirmed his confidence in Sprint, stating that it would soon be the rising star. He also emphasized on the need for Sprint to cut costs, so as to turn a profit.
Sprint’s new packages are very similar to that of Verizon, but whether they would be successful in attracting customers still remains to be seen. Added to this, Sprint has also announced that it would handle the carrier switching fees and has a better quality network as compared to its competitors. Furthermore, the company has already begun introducing cost cut initiatives. The fist initiative that the company took was downsizing its workforce by 8%. The greater part of this figure was composed of employees at 6-customer care centers, which were closed down. However, the results of this initiative would not be visible, until the closing of the next quarter.
Sprint Corp (NYSE:S) was trading at $2.92 at the close of the February 19 session. The stock lost 4.72% of its share value and had a trade volume of 19.24 million.