EarthLink Holdings Corp. (ELNK) Research Coverage Started at Cowen and Company
Research analysts at Cowen and Company began coverage on shares of EarthLink Holdings Corp. (NASDAQ:ELNK) in a research report issued on Monday. The brokerage set an “outperform” rating on the stock.
Other equities analysts also recently issued research reports about the stock. Barclays PLC raised their price objective on shares of EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Zacks Investment Research downgraded shares of EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 11th. Finally, B. Riley began coverage on shares of EarthLink Holdings Corp. in a report on Sunday, August 14th. They issued a “buy” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. EarthLink Holdings Corp. presently has a consensus rating of “Hold” and an average price target of $10.44.
EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 5.98 on Monday. EarthLink Holdings Corp. has a 1-year low of $4.97 and a 1-year high of $9.86. The firm has a 50-day moving average of $6.25 and a 200-day moving average of $6.28. The stock’s market cap is $630.85 million.
EarthLink Holdings Corp. (NASDAQ:ELNK) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $240.40 million for the quarter, compared to the consensus estimate of $246.40 million. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) EPS. Analysts expect that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, September 16th. EarthLink Holdings Corp.’s payout ratio is -181.82%.
In other EarthLink Holdings Corp. news, EVP Rick C. Froehlich sold 31,499 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $6.33, for a total transaction of $199,388.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ELNK. Commonwealth Equity Services Inc boosted its stake in EarthLink Holdings Corp. by 6.5% in the second quarter. Commonwealth Equity Services Inc now owns 16,460 shares of the company’s stock worth $105,000 after buying an additional 1,001 shares during the last quarter. BlackRock Japan Co. Ltd boosted its stake in EarthLink Holdings Corp. by 2,608.3% in the second quarter. BlackRock Japan Co. Ltd now owns 17,550 shares of the company’s stock worth $112,000 after buying an additional 16,902 shares during the last quarter. Clinton Group Inc. purchased a new stake in EarthLink Holdings Corp. during the second quarter worth approximately $114,000. Suntrust Banks Inc. boosted its stake in EarthLink Holdings Corp. by 15.3% in the second quarter. Suntrust Banks Inc. now owns 18,343 shares of the company’s stock worth $116,000 after buying an additional 2,428 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in EarthLink Holdings Corp. during the second quarter worth approximately $125,000. Institutional investors own 89.02% of the company’s stock.
EarthLink Holdings Corp. Company Profile
EarthLink, Inc (EarthLink), is a network, communications and information technology (IT) services provider to business and residential customers in the United States. The Company operates in two segments: Business Services and Consumer Services. EarthLink’s Business Services segment provides a range of data, voice, managed IT and equipment services to business customers.
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