Windstream Holdings Inc (WIN) Upgraded to Buy by Zacks Investment Research
Windstream Holdings Inc (NYSE:WIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 16.77% from the company’s current price.
According to Zacks, “Windstream is well positioned for long-term growth based on its investments in fiber-to-the tower, broadband networks and proper cost management. Windstream’s new cloud-to-cloud disaster recovery management solutions replicates mission-critical virtual servers and data to provide an alternative system for cloud-based disaster recovery system to the customers. The company strengthened its existing tie-up with Cologix through the construction of 2 new PoPs – in Dallas, Texas and Columbus, OH. Also, recent expansion of its metro fibre network business in the Atlanta, Minneapolis and Chicago area and aim to extend the deployment of G.fast technologies to deliver speeds of up to 1 gigabit per second (Gbps) over traditional copper telephone wires should bode well. However, Windstream’s highly leveraged balance sheet, diminishing access lines, losses in the wholesale business and stringent regulatory measures are the near-term risks.”
A number of other equities analysts have also weighed in on the stock. Jefferies Group restated a “sell” rating on shares of Windstream Holdings in a report on Sunday, July 17th. Raymond James Financial Inc. restated an “underperform” rating on shares of Windstream Holdings in a report on Friday, August 5th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $10.00 price objective on shares of Windstream Holdings in a report on Tuesday, July 5th.
Windstream Holdings (NYSE:WIN) traded down 2.97% during trading on Thursday, hitting $9.14. The stock had a trading volume of 445,281 shares. Windstream Holdings has a 52-week low of $4.75 and a 52-week high of $10.46. The company’s market cap is $879.85 million. The company has a 50-day moving average price of $9.16 and a 200-day moving average price of $8.78.
Windstream Holdings (NYSE:WIN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.36. The company earned $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm earned ($1.13) earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts forecast that Windstream Holdings will post $0.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 6.37%.
Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Windstream Holdings by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,323 shares of the company’s stock worth $161,000 after buying an additional 447 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Windstream Holdings by 13.4% in the second quarter. Royal Bank of Canada now owns 88,700 shares of the company’s stock worth $821,000 after buying an additional 10,466 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Windstream Holdings during the second quarter worth $345,000. Personal Capital Advisors Corp raised its stake in shares of Windstream Holdings by 11.5% in the second quarter. Personal Capital Advisors Corp now owns 1,390,297 shares of the company’s stock worth $12,888,000 after buying an additional 143,433 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Windstream Holdings by 100.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,090,914 shares of the company’s stock worth $10,113,000 after buying an additional 546,522 shares in the last quarter.
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