EarthLink Upgraded to Outperform by Oppenheimer (ELNK)
EarthLink (NASDAQ:ELNK) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Shares of EarthLink (NASDAQ:ELNK) traded up 1.77% on Thursday, hitting $3.45. 490,724 shares of the company’s stock traded hands. EarthLink has a one year low of $3.13 and a one year high of $6.80. The stock’s 50-day moving average is $3.48 and its 200-day moving average is $4.37. The company’s market cap is $354.3 million.
EarthLink (NASDAQ:ELNK) last announced its earnings results on Monday, May 5th. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.22) by $0.01. The company had revenue of $297.30 million for the quarter, compared to the consensus estimate of $295.71 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts predict that EarthLink will post $-0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, June 16th.
Separately, analysts at Bank of America initiated coverage on shares of EarthLink in a research note on Wednesday, March 12th. They set a “buy” rating and a $36.00 price target on the stock.
EarthLink, Inc (NASDAQ:ELNK), is a network, communications and information technology (IT) services provider to business and residential customers in the United States.
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