Cowen and Company began coverage on shares of EarthLink Holdings Corp. (NASDAQ:ELNK) in a research report issued to clients and investors on Monday. The brokerage set an “outperform” rating and a $8.00 price target on the stock. Cowen and Company’s price objective points to a potential upside of 29.45% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Barclays PLC increased their price target on EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. B. Riley assumed coverage on EarthLink Holdings Corp. in a report on Sunday, August 14th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Zacks Investment Research downgraded EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 11th. One equities research 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. currently has an average rating of “Hold” and a consensus target price of $9.85.
EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 6.18 on Monday. EarthLink Holdings Corp. has a 52 week low of $4.97 and a 52 week high of $9.86. The stock’s market cap is $651.95 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 announced 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. 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 the consensus estimate of $246.40 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. Analysts anticipate that EarthLink Holdings Corp. will post $0.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.24%. EarthLink Holdings Corp.’s payout ratio is presently -181.82%.
In related news, EVP Rick C. Froehlich sold 31,499 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $6.33, for a total transaction of $199,388.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased 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 worth $105,000 after buying an additional 1,001 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in EarthLink Holdings Corp. by 2,608.3% in the second quarter. BlackRock Japan Co. Ltd now owns 17,550 shares of the company’s stock worth $112,000 after buying an additional 16,902 shares in the last quarter. Clinton Group Inc. bought a new position in EarthLink Holdings Corp. during the second quarter worth $114,000. Suntrust Banks Inc. increased 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 worth $116,000 after buying an additional 2,428 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in EarthLink Holdings Corp. during the second quarter worth $125,000. Institutional investors and hedge funds own 89.02% of the company’s stock.
About EarthLink Holdings Corp.
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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