Windstream Holdings Inc (WIN) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Windstream Holdings Inc (NYSE:WIN) from a hold rating to a strong-buy rating in a research note published on Thursday morning. The firm currently has $9.50 target price 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. Also, it's recent plan to strengthen its fixed wireless networks services by upgrading it with millimeter wave radio technology bodes well with its expansion efforts. 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 analysts have also commented on the stock. Citigroup Inc. reaffirmed a neutral rating and set a $10.00 price target on shares of Windstream Holdings in a research report on Tuesday, July 5th. Cowen and Company initiated coverage on shares of Windstream Holdings in a report on Thursday. They issued a market perform rating and a $9.00 target price for the company. Raymond James Financial Inc. reiterated an underperform rating on shares of Windstream Holdings in a report on Friday, August 5th. Finally, Jefferies Group lifted their target price on shares of Windstream Holdings from $4.00 to $6.00 and gave the company an underperform rating in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $8.63.
Shares of Windstream Holdings (NYSE:WIN) traded up 0.24% during mid-day trading on Thursday, hitting $8.46. The stock had a trading volume of 303,796 shares. The stock’s 50-day moving average is $9.21 and its 200 day moving average is $8.81. Windstream Holdings has a 12 month low of $4.75 and a 12 month high of $10.46. The firm’s market cap is $814.39 million.
Windstream Holdings (NYSE:WIN) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.36. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.13) EPS. Equities research analysts predict that Windstream Holdings will post $0.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 7.11%.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in Windstream Holdings during the second quarter valued at approximately $250,000. Sequoia Financial Advisors LLC acquired a new position in Windstream Holdings during the second quarter valued at approximately $188,000. Bank of New York Mellon Corp increased its position in Windstream Holdings by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 1,688,148 shares of the company’s stock valued at $15,650,000 after buying an additional 132,599 shares during the period. California State Teachers Retirement System increased its position in Windstream Holdings by 3.5% in the second quarter. California State Teachers Retirement System now owns 201,388 shares of the company’s stock valued at $1,867,000 after buying an additional 6,900 shares during the period. Finally, Societe Generale acquired a new position in Windstream Holdings during the second quarter valued at approximately $175,000.
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