Windstream Holdings Inc (WIN) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Windstream Holdings Inc (NYSE:WIN) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $11.00 price target on the stock.
According to Zacks, “Windstream is well positioned for long-term growth based on its investments in fiber-to-the tower, broadband networks and proper cost management. Windstream’s new cloud-to-cloud disaster recovery management solutions replicates mission-critical virtual servers and data to provide an alternative system for cloud-based disaster recovery system to the customers. The company strengthened its existing tie-up with Cologix through the construction of 2 new PoPs – in Dallas, Texas and Columbus, OH. Also, recent expansion of its metro fibre network business in the Atlanta, Minneapolis and Chicago area and aim to extend the deployment of G.fast technologies to deliver speeds of up to 1 gigabit per second (Gbps) over traditional copper telephone wires should bode well. However, Windstream’s highly leveraged balance sheet, diminishing access lines, losses in the wholesale business and stringent regulatory measures are the near-term risks.”
Several other equities research analysts have also commented on the stock. Raymond James Financial Inc. restated an underperform rating on shares of Windstream Holdings in a report on Friday, August 5th. Jefferies Group restated a sell rating on shares of Windstream Holdings in a report on Sunday, July 17th. Finally, Citigroup Inc. restated a neutral rating and issued a $10.00 price target on shares of Windstream Holdings in a report on Tuesday, July 5th.
Shares of Windstream Holdings (NYSE:WIN) traded down 3.91% during midday trading on Thursday, reaching $8.85. 960,993 shares of the company traded hands. Windstream Holdings has a 1-year low of $4.75 and a 1-year high of $10.46. The company has a 50 day moving average price of $9.18 and a 200 day moving average price of $8.78. The company’s market capitalization is $851.94 million.
Windstream Holdings (NYSE:WIN) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.36. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Windstream Holdings’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned ($1.13) earnings per share. On average, analysts expect that Windstream Holdings will post $0.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.51%. The ex-dividend date is Wednesday, September 28th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new position in shares of Windstream Holdings during the second quarter valued at $105,000. Sii Investments Inc. WI bought a new position in shares of Windstream Holdings during the second quarter valued at $109,000. Teacher Retirement System of Texas raised its position in shares of Windstream Holdings by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 12,826 shares of the company’s stock valued at $119,000 after buying an additional 504 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Windstream Holdings during the second quarter valued at $157,000. Finally, KCG Holdings Inc. bought a new position in shares of Windstream Holdings during the second quarter valued at $159,000.
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