Zacks Investment Research upgraded shares of Windstream (NASDAQ:WIN) from a sell rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Windstream is seeking diversification from legacy telecom services to more business, enterprise, and wholesale opportunities. Buyout of EarthLink and Broadview have boosted the company’s SD-WAN and cloud suite. Windstream is also realigning its wireless network toward a software-centric model to meet increasing business demands and customer needs. The company aims to focus on four aspects – providing cloud connectivity, elevating customer experience, enabling employee collaboration and enhancing security and compliance. However, Windstream remains under pressure with losses in the wholesale business, technological changes and its related expenses, highly leveraged balance sheet, diminishing access lines and stringent regulatory measures. In fact, the stock price declined 70% as against the industry's loss of 11.2% in a year's time.”
A number of other analysts have also commented on WIN. Canaccord Genuity reaffirmed a buy rating and issued a $3.00 price target on shares of Windstream in a research note on Friday, November 24th. BidaskClub raised Windstream from a hold rating to a buy rating in a research note on Saturday, December 2nd. Barclays started coverage on Windstream in a research note on Friday, December 15th. They issued an underweight rating and a $1.50 price target for the company. JPMorgan Chase & Co. lowered Windstream from a neutral rating to an underweight rating in a research note on Tuesday, January 2nd. Finally, ValuEngine raised Windstream from a strong sell rating to a sell rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $1.96.
Windstream (NASDAQ:WIN) last issued its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.42. Windstream had a negative net margin of 36.16% and a negative return on equity of 191.89%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business earned ($0.83) earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. research analysts forecast that Windstream will post -2.58 EPS for the current fiscal year.
In other news, Director Michael G. Stoltz acquired 29,734 shares of the stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $1.58 per share, with a total value of $46,979.72. Following the completion of the transaction, the director now owns 97,453 shares of the company’s stock, valued at approximately $153,975.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.95% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its position in shares of Windstream by 22.6% in the 3rd quarter. Royce & Associates LP now owns 2,346,752 shares of the technology company’s stock worth $4,154,000 after purchasing an additional 433,134 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Windstream by 192.6% in the 3rd quarter. Magnetar Financial LLC now owns 177,379 shares of the technology company’s stock worth $314,000 after purchasing an additional 116,767 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Windstream by 287.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 115,280 shares of the technology company’s stock worth $204,000 after purchasing an additional 85,500 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Windstream by 43.5% in the 3rd quarter. California Public Employees Retirement System now owns 1,682,724 shares of the technology company’s stock worth $2,978,000 after purchasing an additional 509,970 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Windstream by 2,071.1% in the 4th quarter. Bank of Montreal Can now owns 106,928 shares of the technology company’s stock worth $197,000 after purchasing an additional 102,003 shares during the last quarter. 61.61% of the stock is owned by institutional investors and hedge funds.
Windstream Company Profile
Windstream Corporation (Windstream) is a provider of advanced communications and technology solutions, including managed services and cloud computing, to businesses nationwide. In addition to business services, the Company offers broadband, voice and video services to consumers in primarily rural markets.
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