Bank of America Corporation Downgrades Windstream Holdings Inc (NYSE:WIN) to Underperform
Windstream Holdings Inc (NYSE:WIN) was downgraded by Bank of America Corporation from a “buy” rating to an “underperform” rating in a research report issued on Friday. They currently have a $3.00 price objective on the stock. Bank of America Corporation’s price target indicates a potential upside of 34.53% from the company’s current price.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Windstream Holdings from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Citigroup Inc. lowered their price objective on Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a report on Thursday, July 13th. Morgan Stanley reissued an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Windstream Holdings in a report on Wednesday, June 14th. Finally, Raymond James Financial, Inc. raised Windstream Holdings from an “underperform” rating to an “outperform” rating and set a $5.25 price objective for the company in a report on Wednesday, May 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.11.
Shares of Windstream Holdings (NYSE WIN) traded down 6.30% during mid-day trading on Friday, hitting $2.23. The company had a trading volume of 14,474,442 shares. Windstream Holdings has a 52-week low of $2.13 and a 52-week high of $10.45. The stock’s market cap is $424.80 million. The stock’s 50-day moving average is $3.99 and its 200-day moving average is $5.53.
Windstream Holdings (NYSE:WIN) last announced its earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $0.01 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that Windstream Holdings will post ($1.93) earnings per share for the current year.
Windstream Holdings announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $90.00 million in shares. This repurchase authorization permits the company to repurchase up to 19.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds have recently made changes to their positions in the stock. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Isthmus Partners LLC raised its stake 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, Paragon Capital Management Ltd purchased a new stake in shares of Windstream Holdings during the first quarter valued at $245,000.
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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