Windstream Holdings Inc (WIN) Upgraded at Zacks Investment Research
Windstream Holdings Inc (NYSE:WIN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The firm currently has a $9.50 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.64% from the company’s previous close.
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 equities research analysts have also weighed in on WIN. Citigroup Inc. reiterated a “neutral” rating and set a $10.00 price objective on shares of Windstream Holdings in a research note on Tuesday, July 5th. Jefferies Group increased their price objective on shares of Windstream Holdings from $4.00 to $6.00 and gave the stock an “underperform” rating in a research note on Friday, July 15th. Raymond James Financial Inc. reiterated an “underperform” rating on shares of Windstream Holdings in a research note on Friday, August 5th. Finally, Cowen and Company initiated coverage on shares of Windstream Holdings in a research note on Thursday. They set a “market perform” rating and a $9.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.63.
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Shares of Windstream Holdings (NYSE:WIN) opened at 8.36 on Thursday. The firm’s market capitalization is $804.77 million. Windstream Holdings has a 52-week low of $4.75 and a 52-week high of $10.46. The stock’s 50 day moving average is $9.21 and its 200-day moving average is $8.81.
Windstream Holdings (NYSE:WIN) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.36. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Windstream Holdings’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.13) EPS. On average, equities analysts forecast that Windstream Holdings will post $0.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.18%. The ex-dividend date is Wednesday, September 28th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Windstream Holdings by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,902,527 shares of the company’s stock valued at $101,066,000 after buying an additional 478,583 shares during the period. BlackRock Fund Advisors boosted its position in Windstream Holdings by 28.8% in the second quarter. BlackRock Fund Advisors now owns 5,529,408 shares of the company’s stock valued at $51,258,000 after buying an additional 1,237,004 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Windstream Holdings by 19.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,295,579 shares of the company’s stock valued at $30,550,000 after buying an additional 532,353 shares during the period. JPMorgan Chase & Co. boosted its position in Windstream Holdings by 40.6% in the second quarter. JPMorgan Chase & Co. now owns 2,385,541 shares of the company’s stock valued at $22,114,000 after buying an additional 688,770 shares during the period. Finally, Bank of New York Mellon Corp boosted 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.
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