EarthLink Holdings Corp. (NASDAQ:ELNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $6.75 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 9.22% from the stock’s previous close.
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. “
A number of other equities research analysts have also recently issued reports on ELNK. B. Riley reissued a “buy” rating and issued a $10.00 price target on shares of EarthLink Holdings Corp. in a research note on Thursday, August 4th. Cowen and Company began coverage on shares of EarthLink Holdings Corp. in a research note on Monday. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, Barclays PLC lifted their price target on shares of EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. EarthLink Holdings Corp. presently has a consensus rating of “Hold” and a consensus price target of $9.85.
EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 6.18 on Monday. The company’s market capitalization is $651.95 million. The stock has a 50 day moving average of $6.24 and a 200-day moving average of $6.29. EarthLink Holdings Corp. has a 12-month low of $4.97 and a 12-month high of $9.86.
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, beating analysts’ consensus estimates of $0.03 by $0.01. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. The firm had revenue of $240.40 million for the quarter, compared to analysts’ expectations of $246.40 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. Equities analysts expect that EarthLink Holdings Corp. will post $0.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, September 16th. This represents a $0.20 annualized dividend and a yield of 3.24%. 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 shares were sold at an average price of $6.33, for a total transaction of $199,388.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ELNK. Algert Global LLC boosted its position in shares of 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. boosted its position in shares of 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. purchased a new position in shares of EarthLink Holdings Corp. during the second quarter valued at $394,000. AHL Partners LLP purchased a new position in shares of EarthLink Holdings Corp. during the second quarter valued at $165,000. Finally, Panagora Asset Management Inc. boosted its position in shares of 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 currently 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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