West Corp. (NASDAQ:WSTC) Receives $26.00 Average Price Target from Brokerages
Shares of West Corp. (NASDAQ:WSTC) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.00.
WSTC has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of West Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Deutsche Bank AG increased their price target on West Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd.
In related news, insider Scott Etzler sold 15,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $360,000.00. Following the transaction, the insider now directly owns 206,999 shares in the company, valued at approximately $4,967,976. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of West Corp. during the fourth quarter worth about $10,831,000. TIAA CREF Investment Management LLC boosted its position in shares of West Corp. by 4.8% in the first quarter. TIAA CREF Investment Management LLC now owns 247,128 shares of the company’s stock worth $5,639,000 after buying an additional 11,253 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of West Corp. by 28.6% in the first quarter. Teachers Advisors Inc. now owns 102,692 shares of the company’s stock worth $2,343,000 after buying an additional 22,867 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of West Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,266,455 shares of the company’s stock worth $28,901,000 after buying an additional 18,750 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of West Corp. by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 1,073,185 shares of the company’s stock worth $24,490,000 after buying an additional 11,560 shares in the last quarter. Institutional investors own 55.09% of the company’s stock.
Shares of West Corp. (NASDAQ:WSTC) opened at 22.56 on Monday. The stock has a 50 day moving average of $22.78 and a 200-day moving average of $21.99. West Corp. has a 12-month low of $17.26 and a 12-month high of $26.52. The firm has a market capitalization of $1.87 billion, a P/E ratio of 10.07 and a beta of 1.48.
West Corp. (NASDAQ:WSTC) last released its earnings results on Monday, August 1st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business earned $582.40 million during the quarter, compared to the consensus estimate of $576.84 million. West Corp. had a net margin of 8.24% and a negative return on equity of 44.40%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, equities research analysts predict that West Corp. will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 22nd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, August 18th. West Corp.’s dividend payout ratio is currently 40.18%.
About West Corp.
West Corporation (West) is a global provider of technology-enabled communication services. The Company offers a range of communication and network infrastructure solutions that helps to manage or support communications. The Company operates through four segments: Unified Communications Services, which includes collaboration services, Unified Communications as a Service (UCaaS) and telecom services; Safety Services, which includes 9-1-1 network services, 9-1-1 telephony systems and services, 9-1-1 solutions for enterprises and database management; Interactive Services, which includes notifications and mobility, interactive voice response (IVR) self-service, cloud contact center and professional services, and Specialized Agent Services, which includes healthcare advocacy services, cost management services and revenue generation.
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