Windstream Holdings’ (WIN) “Equal Weight” Rating Reiterated at Morgan Stanley
Morgan Stanley reiterated their equal weight rating on shares of Windstream Holdings Inc (NYSE:WIN) in a research note published on Wednesday morning. The firm currently has a $2.40 target price on the stock, down from their previous target price of $5.00.
A number of other equities analysts have also recently issued reports on WIN. Raymond James Financial, Inc. upgraded Windstream Holdings from an underperform rating to an outperform rating and set a $5.25 target price on the stock in a report on Wednesday, May 17th. Citigroup Inc. lowered their price target on Windstream Holdings from $5.25 to $4.00 and set a neutral rating for the company in a research report on Thursday, July 13th. Zacks Investment Research lowered Windstream Holdings from a hold rating to a strong sell rating in a research report on Wednesday, August 2nd. Bank of America Corporation lowered Windstream Holdings from a buy rating to an underperform rating and lowered their price target for the company from $8.00 to $3.00 in a research report on Friday, August 4th. Finally, Deutsche Bank AG lowered their price target on Windstream Holdings from $7.00 to $3.00 and set a hold rating for the company in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Windstream Holdings currently has an average rating of Hold and a consensus target price of $4.65.
Shares of Windstream Holdings (WIN) opened at 2.04 on Wednesday. The firm has a 50-day moving average of $2.99 and a 200 day moving average of $4.83. Windstream Holdings has a 52-week low of $1.87 and a 52-week high of $10.45. The company’s market capitalization is $389.29 million.
Windstream Holdings (NYSE:WIN) last issued its earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.01 earnings per share. Windstream Holdings’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that Windstream Holdings will post ($1.98) EPS for the current year.
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Windstream Holdings announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that permits the company to repurchase $90.00 million in shares. This repurchase authorization permits the company to reacquire up to 19.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Alan L. Wells acquired 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $2.10 per share, with a total value of $142,800.00. Following the acquisition, the director now owns 157,971 shares in the company, valued at approximately $331,739.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony W. Thomas acquired 25,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $1.97 per share, with a total value of $50,000.57. Following the acquisition, the director now owns 637,006 shares in the company, valued at approximately $1,254,901.82. The disclosure for this purchase can be found here. In the last three months, insiders purchased 95,381 shares of company stock valued at $196,901.
Large investors have recently made changes to their positions in the company. United Capital Financial Advisers LLC raised its stake in shares of Windstream Holdings by 0.5% in the first quarter. United Capital Financial Advisers LLC now owns 22,981 shares of the company’s stock valued at $125,000 after buying an additional 110 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Windstream Holdings by 2.8% in the second quarter. BNP Paribas Arbitrage SA now owns 46,347 shares of the company’s stock valued at $180,000 after buying an additional 1,257 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Windstream Holdings by 11.1% in the first quarter. Nisa Investment Advisors LLC now owns 27,392 shares of the company’s stock valued at $149,000 after buying an additional 2,726 shares during the period. Isthmus Partners LLC increased its position in shares of Windstream Holdings by 2.7% in the first quarter. Isthmus Partners LLC now owns 106,730 shares of the company’s stock valued at $582,000 after buying an additional 2,837 shares in the last quarter. Finally, Menta Capital LLC increased its position in shares of Windstream Holdings by 1.3% in the second quarter. Menta Capital LLC now owns 310,359 shares of the company’s stock valued at $1,204,000 after buying an additional 3,916 shares in the last quarter.
Windstream Holdings Company Profile
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.
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