West Corp. (WSTC) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “West Corporation offers communication services. The Company provides services which include conferencing and collaboration, unified communications, alerts and notifications, emergency communications, business process outsourcing and telephony/interconnect services. It operates primarily in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America and South America. West Corporation is headquartered in Omaha, Nebraska. “
Separately, Deutsche Bank AG lifted their target price on West Corp. from $23.00 to $26.00 and gave the company a buy rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $26.00.
Shares of West Corp. (NASDAQ:WSTC) traded down 1.72% during mid-day trading on Thursday, hitting $21.68. The company’s stock had a trading volume of 34,399 shares. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 9.67 and a beta of 1.50. The company has a 50-day moving average of $22.55 and a 200 day moving average of $21.95. West Corp. has a 1-year low of $17.26 and a 1-year high of $26.52.
West Corp. (NASDAQ:WSTC) last released its quarterly earnings results on Monday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. West Corp. had a negative return on equity of 44.40% and a net margin of 8.24%. The firm had revenue of $582.40 million for the quarter, compared to the consensus estimate of $576.84 million. During the same quarter last year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that West Corp. will post $3.04 EPS for the current year.
In other West Corp. news, insider Scott Etzler sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $360,000.00. Following the transaction, the insider now owns 206,999 shares of the company’s stock, valued at $4,967,976. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Rodney J. Kempkes sold 2,780 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $22.25, for a total value of $61,855.00. Following the transaction, the insider now directly owns 73,592 shares in the company, valued at approximately $1,637,422. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in WSTC. Vanguard Group Inc. increased its position in shares of West Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 4,777,780 shares of the company’s stock worth $93,931,000 after buying an additional 230,043 shares during the period. BlackRock Institutional Trust Company N.A. increased 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 during the period. JPMorgan Chase & Co. increased its position in shares of West Corp. by 16.0% in the second quarter. JPMorgan Chase & Co. now owns 1,244,659 shares of the company’s stock worth $24,470,000 after buying an additional 171,474 shares during the period. Dimensional Fund Advisors LP increased its position in shares of West Corp. by 16.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,148,052 shares of the company’s stock worth $22,570,000 after buying an additional 158,471 shares during the period. Finally, Palisade Capital Management LLC NJ increased its position in shares of West Corp. by 13.2% in the first quarter. Palisade Capital Management LLC NJ now owns 1,041,800 shares of the company’s stock worth $23,774,000 after buying an additional 121,422 shares during the period. 55.09% of the stock is currently owned by hedge funds and other institutional investors.
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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