Windstream Holdings Inc (NYSE:WIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $11.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 16.77% 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. The company strengthened its existing tie-up with Cologix through the construction of 2 new PoPs – in Dallas, Texas and Columbus, OH. Also, recent expansion of its metro fibre network business in the Atlanta, Minneapolis and Chicago area and aim to extend the deployment of G.fast technologies to deliver speeds of up to 1 gigabit per second (Gbps) over traditional copper telephone wires should bode well. However, Windstream’s highly leveraged balance sheet, diminishing access lines, losses in the wholesale business and stringent regulatory measures are the near-term risks.”
A number of other brokerages have also commented on WIN. Jefferies Group reaffirmed a “sell” rating on shares of Windstream Holdings in a research report on Sunday, July 17th. Citigroup Inc. reaffirmed a “neutral” rating and set a $10.00 target price on shares of Windstream Holdings in a research report on Tuesday, July 5th. Finally, Raymond James Financial Inc. reaffirmed an “underperform” rating on shares of Windstream Holdings in a research report on Friday, August 5th.
Shares of Windstream Holdings (NYSE:WIN) traded down 2.97% during midday trading on Thursday, reaching $9.14. 445,281 shares of the company’s stock were exchanged. Windstream Holdings has a one year low of $4.75 and a one year high of $10.46. The firm’s market cap is $879.85 million. The stock’s 50-day moving average is $9.16 and its 200 day moving average is $8.78.
Windstream Holdings (NYSE:WIN) last issued its earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.36. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted ($1.13) earnings per share. Analysts anticipate that Windstream Holdings will post $0.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.37%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in shares of 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. FMR LLC bought a new stake in Windstream Holdings during the second quarter worth about $11,139,000. JPMorgan Chase & Co. increased its stake in Windstream Holdings by 40.6% in the second quarter. JPMorgan Chase & Co. now owns 2,385,541 shares of the company’s stock worth $22,114,000 after buying an additional 688,770 shares during the period. UBS Oconnor LLC bought a new stake in Windstream Holdings during the second quarter worth about $6,121,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Windstream Holdings by 100.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,090,914 shares of the company’s stock worth $10,113,000 after buying an additional 546,522 shares during the period.
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