EarthLink Holdings Corp. (ELNK) Research Coverage Started at Cowen and Company
Equities research analysts at Cowen and Company initiated coverage on shares of EarthLink Holdings Corp. (NASDAQ:ELNK) in a report released on Monday, The Fly reports. The firm set an “outperform” rating on the stock.
A number of other equities analysts have also recently issued reports on ELNK. Zacks Investment Research cut EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, June 20th. B. Riley reaffirmed a “buy” rating and set a $10.00 target price on shares of EarthLink Holdings Corp. in a research report on Thursday, August 4th. Finally, Barclays PLC lifted their target price on EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.44.
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 5.98 on Monday. The company’s 50 day moving average price is $6.25 and its 200 day moving average price is $6.28. EarthLink Holdings Corp. has a 52-week low of $4.97 and a 52-week high of $9.86. The stock’s market capitalization is $630.85 million.
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EarthLink Holdings Corp. (NASDAQ:ELNK) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. EarthLink Holdings Corp. had a negative return on equity of 43.21% and a negative net margin of 1.06%. The company earned $240.40 million during the quarter, compared to analysts’ expectations of $246.40 million. During the same quarter in the previous year, the business earned ($0.10) EPS. EarthLink Holdings Corp.’s revenue was down 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that EarthLink Holdings Corp. will post $0.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio (DPR) is presently -181.82%.
In other EarthLink Holdings Corp. news, EVP Rick C. Froehlich sold 31,499 shares of EarthLink Holdings Corp. stock in a transaction on Monday, September 12th. The stock was sold at an average price of $6.33, for a total transaction of $199,388.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELNK. Algert Global LLC raised its position in EarthLink Holdings Corp. by 34.0% in the third quarter. Algert Global LLC now owns 49,260 shares of the company’s stock valued at $305,000 after buying an additional 12,492 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in EarthLink Holdings Corp. by 5.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,511,448 shares of the company’s stock valued at $9,674,000 after buying an additional 75,283 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in EarthLink Holdings Corp. during the second quarter valued at approximately $394,000. AHL Partners LLP bought a new position in EarthLink Holdings Corp. during the second quarter valued at approximately $165,000. Finally, Panagora Asset Management Inc. raised its position in EarthLink Holdings Corp. by 4.5% in the second quarter. Panagora Asset Management Inc. now owns 1,175,373 shares of the company’s stock valued at $7,522,000 after buying an additional 50,504 shares during the last quarter. 89.02% of the stock is owned by hedge funds and other institutional investors.
EarthLink Holdings Corp. Company Profile
EarthLink, Inc (EarthLink), is a network, communications and information technology (IT) services provider to business and residential customers in the United States. The Company operates in two segments: Business Services and Consumer Services. EarthLink’s Business Services segment provides a range of data, voice, managed IT and equipment services to business customers.
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