Bank of America Corp. Reiterates “Buy” Rating for West Corp (WSTC)
West Corp (NASDAQ:WSTC)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corp. in a note issued to investors on Monday, American Banking & Market News reports. They currently have a $29.00 target price on the stock, up from their previous target price of $28.00. Bank of America Corp.’s price target would suggest a potential upside of 25.43% from the stock’s previous close.
The analysts wrote, “We continue to like West’s steady profile, complemented by high dividend & FCF yields (4% & 14%, respectively). West does not plan to increase the dividend in 2014. Our $28 price objective represents 8x 2015E adj. EBITDA (no change), or 10.3x adjusted 2015E EPS. This is a discount to peers on EV/EBITDA (8.9x 2015E) and EPS (13.9x).”
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays downgraded shares of West Corp from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, January 29th. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of West Corp from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 23rd. Finally, analysts at RBC Capital initiated coverage on shares of West Corp in a research note to investors on Friday, January 10th. They set an “outperform” rating and a $31.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.58.
Shares of West Corp (NASDAQ:WSTC) traded down 5.54% on Monday, hitting $21.84. The stock had a trading volume of 48,385 shares. West Corp has a 52-week low of $18.38 and a 52-week high of $26.39. The stock’s 50-day moving average is $25.48 and its 200-day moving average is $23.44. The company has a market cap of $1.826 billion and a price-to-earnings ratio of 16.80.
West Corp (NASDAQ:WSTC) last released its earnings data on Friday, January 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $687.00 million for the quarter, compared to the consensus estimate of $670.00 million. Analysts expect that West Corp will post $2.87 EPS for the current fiscal year.
The company also recently declared a dividend, which is scheduled for Thursday, February 20th. Investors of record on Monday, February 10th will be given a dividend of 0.225 per share. The ex-dividend date of this dividend is Thursday, February 6th.
West Corporation is a provider of technology-driven, communication services. The Company offers a broad portfolio of services, including conferencing and collaboration, unified communications, alerts and notifications, emergency communications, business process outsourcing and telephony / interconnect services.
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