EarthLink Holdings Corp. (ELNK) Upgraded to “Buy” at Zacks Investment Research
EarthLink Holdings Corp. (NASDAQ:ELNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $6.75 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 13.45% from the company’s current price.
According to Zacks, “EarthLink Holdings Corp. provides IT services and communications to business and residential customers primarily in the United States. The company’s services consists of cloud computing, managed and private cloud, virtualization services such as managed hosting and cloud workspace, IT security, application hosting, colocation and IT support services. It also offers data and voice IP services. EarthLink Holdings Corp., formerly known as EarthLink, Inc., is headquartered in Atlanta, GA. “
Several other research analysts also recently issued reports on the company. Cowen and Company assumed coverage on EarthLink Holdings Corp. in a research note on Monday. They set an “outperform” rating and a $8.00 price target for the company. Barclays PLC lifted their price objective on EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Finally, B. Riley assumed coverage on EarthLink Holdings Corp. in a research report on Sunday, August 14th. They set a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.85.
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EarthLink Holdings Corp. (NASDAQ:ELNK) traded down 0.50% on Monday, reaching $5.95. 494,447 shares of the company’s stock were exchanged. EarthLink Holdings Corp. has a 1-year low of $4.97 and a 1-year high of $9.86. The company’s market capitalization is $627.69 million. The company has a 50 day moving average price of $6.24 and a 200-day moving average price of $6.29.
EarthLink Holdings Corp. (NASDAQ:ELNK) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business earned $240.40 million during the quarter, compared to the consensus estimate of $246.40 million. EarthLink Holdings Corp. had a negative return on equity of 43.21% and a negative net margin of 1.06%. The business’s revenue was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, equities research analysts anticipate that EarthLink Holdings Corp. will post $0.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio (DPR) is -181.82%.
In other EarthLink Holdings Corp. news, EVP Rick C. Froehlich sold 31,499 shares of EarthLink Holdings Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $6.33, for a total value of $199,388.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in EarthLink Holdings Corp. by 3.7% in the second quarter. Principal Financial Group Inc. now owns 20,213 shares of the company’s stock valued at $129,000 after buying an additional 720 shares in the last quarter. Commonwealth Equity Services Inc raised its position in EarthLink Holdings Corp. by 6.5% in the second quarter. Commonwealth Equity Services Inc now owns 16,460 shares of the company’s stock valued at $105,000 after buying an additional 1,001 shares in the last quarter. California State Teachers Retirement System raised its position in EarthLink Holdings Corp. by 0.9% in the second quarter. California State Teachers Retirement System now owns 220,382 shares of the company’s stock valued at $1,410,000 after buying an additional 1,978 shares in the last quarter. Suntrust Banks Inc. raised its position in EarthLink Holdings Corp. by 15.3% in the second quarter. Suntrust Banks Inc. now owns 18,343 shares of the company’s stock valued at $116,000 after buying an additional 2,428 shares in the last quarter. Finally, Raymond James & Associates raised its position in EarthLink Holdings Corp. by 12.4% in the second quarter. Raymond James & Associates now owns 30,590 shares of the company’s stock valued at $196,000 after buying an additional 3,382 shares in the last quarter. Institutional investors own 89.02% of the company’s stock.
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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