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 increased their price objective on shares of West Corp. from $23.00 to $26.00 and gave the stock 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 stock has a consensus rating of Hold and an average price target of $26.00.
Shares of West Corp. (NASDAQ:WSTC) traded down 1.72% during midday trading on Thursday, hitting $21.68. The stock had a trading volume of 34,399 shares. West Corp. has a 52 week low of $17.26 and a 52 week high of $26.52. 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 stock’s 50-day moving average price is $22.55 and its 200 day moving average price is $21.95.
West Corp. (NASDAQ:WSTC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The company had revenue of $582.40 million for the quarter, compared to analysts’ expectations of $576.84 million. West Corp. had a net margin of 8.24% and a negative return on equity of 44.40%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, equities analysts forecast that West Corp. will post $3.04 earnings per share for the current year.
In other West Corp. news, insider Scott Etzler sold 15,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $360,000.00. Following the completion of the sale, the insider now owns 206,999 shares in the company, valued at approximately $4,967,976. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rodney J. Kempkes sold 2,780 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $22.25, for a total transaction of $61,855.00. Following the completion of the sale, the insider now owns 73,592 shares of the company’s stock, valued at approximately $1,637,422. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its stake in West Corp. by 4.8% in the first quarter. TIAA CREF Investment Management LLC now owns 247,128 shares of the company’s stock valued at $5,639,000 after buying an additional 11,253 shares during the period. Teachers Advisors Inc. raised its stake in West Corp. by 28.6% in the first quarter. Teachers Advisors Inc. now owns 102,692 shares of the company’s stock valued at $2,343,000 after buying an additional 22,867 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in 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 valued at $28,901,000 after buying an additional 18,750 shares during the period. JPMorgan Chase & Co. raised its stake in West Corp. by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 1,073,185 shares of the company’s stock valued at $24,490,000 after buying an additional 11,560 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in West Corp. during the first quarter valued at approximately $1,461,000. Hedge funds and other institutional investors own 55.09% of the company’s stock.
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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