EarthLink Holdings Corp. (NASDAQ:ELNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $6.75 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 9.22% from the company’s current price.

According to Zacks, “EarthLink Holdings Corp. provides IT services and communications to business and residential customers primarily in the United States. The company’s services consists of cloud computing, managed and private cloud, virtualization services such as managed hosting and cloud workspace, IT security, application hosting, colocation and IT support services. It also offers data and voice IP services. EarthLink Holdings Corp., formerly known as EarthLink, Inc., is headquartered in Atlanta, GA. “

A number of other equities analysts have also weighed in on the stock. Cowen and Company began coverage on shares of EarthLink Holdings Corp. in a research report on Monday. They set an “outperform” rating and a $8.00 target price for the company. Barclays PLC upped their target price on shares of EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Finally, B. Riley began coverage on shares of EarthLink Holdings Corp. in a research report on Sunday, August 14th. They set a “buy” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.85.

Analyst Recommendations for EarthLink Holdings Corp. (NASDAQ:ELNK)

Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 6.18 on Monday. The firm has a 50-day moving average of $6.24 and a 200-day moving average of $6.29. The company’s market cap is $651.95 million. EarthLink Holdings Corp. has a one year low of $4.97 and a one year high of $9.86.

EarthLink Holdings Corp. (NASDAQ:ELNK) last issued its earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. The firm earned $240.40 million during the quarter, compared to analyst estimates of $246.40 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. EarthLink Holdings Corp.’s revenue for the quarter was down 15.3% on a year-over-year basis. Equities research analysts forecast that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors 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 3.24%. The ex-dividend date was Friday, September 16th. EarthLink Holdings Corp.’s payout ratio is -181.82%.

In related news, EVP Rick C. Froehlich sold 31,499 shares of the company’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ELNK. Pacad Investment Ltd. increased its stake in shares of EarthLink Holdings Corp. by 81.7% in the first quarter. Pacad Investment Ltd. now owns 34,700 shares of the company’s stock valued at $197,000 after buying an additional 15,600 shares in the last quarter. BlackRock Group LTD increased its stake in shares of EarthLink Holdings Corp. by 9.8% in the first quarter. BlackRock Group LTD now owns 146,817 shares of the company’s stock valued at $832,000 after buying an additional 13,066 shares in the last quarter. Royce & Associates LP increased its stake in shares of EarthLink Holdings Corp. by 3.4% in the first quarter. Royce & Associates LP now owns 3,168,130 shares of the company’s stock valued at $17,963,000 after buying an additional 105,500 shares in the last quarter. AXA increased its stake in shares of EarthLink Holdings Corp. by 10.3% in the first quarter. AXA now owns 329,700 shares of the company’s stock valued at $1,869,000 after buying an additional 30,900 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of EarthLink Holdings Corp. by 2.0% in the first quarter. Renaissance Technologies LLC now owns 8,173,139 shares of the company’s stock valued at $46,342,000 after buying an additional 158,700 shares in the last quarter. 89.02% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:ELNK

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