Windstream Holdings Inc (WIN) Upgraded to “Strong-Buy” 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 research report issued to clients and investors on Thursday. The brokerage currently has a $9.50 price objective on the stock. Zacks Investment Research’s price target 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 research analysts also recently weighed in on WIN. Jefferies Group reiterated a “sell” rating on shares of Windstream Holdings in a research report on Sunday, July 17th. Cowen and Company assumed coverage on shares of Windstream Holdings in a research report on Thursday. They issued a “market perform” rating and a $9.00 price target on the stock. Raymond James Financial Inc. reiterated an “underperform” rating on shares of Windstream Holdings in a research report on Friday, August 5th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $10.00 price target on shares of Windstream Holdings in a research report on Tuesday, July 5th. Two equities 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. Windstream Holdings has a consensus rating of “Hold” and an average price target of $8.63.
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Shares of Windstream Holdings (NYSE:WIN) opened at 8.36 on Thursday. Windstream Holdings has a 12-month low of $4.75 and a 12-month high of $10.46. The company’s market capitalization is $804.77 million. 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 results on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.36. The business earned $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business posted ($1.13) earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Analysts anticipate that Windstream Holdings will post $0.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.18%.
Several hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Windstream Holdings by 4.0% in the third quarter. Creative Planning now owns 10,269 shares of the company’s stock worth $103,000 after buying an additional 397 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Windstream Holdings during the second quarter worth about $105,000. Sii Investments Inc. WI purchased a new stake in shares of Windstream Holdings during the second quarter worth about $109,000. Teacher Retirement System of Texas boosted its stake in shares of Windstream Holdings by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 12,826 shares of the company’s stock worth $119,000 after buying an additional 504 shares during the period. Finally, Atria Investments LLC purchased a new stake in shares of Windstream Holdings during the third quarter worth about $139,000.
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