Windstream Holdings Inc (NYSE:WIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 24.86% from the stock’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 research firms also recently issued reports on WIN. Jefferies Group reaffirmed a “sell” rating on shares of Windstream Holdings in a report on Sunday, July 17th. Citigroup Inc. reiterated a “neutral” rating and issued a $10.00 target price on shares of Windstream Holdings in a research report on Tuesday, July 5th. Finally, Raymond James Financial Inc. reiterated an “underperform” rating on shares of Windstream Holdings in a research report on Friday, August 5th.
Windstream Holdings (NYSE:WIN) opened at 8.81 on Thursday. The company’s market cap is $848.09 million. The stock’s 50 day moving average is $9.19 and its 200-day moving average is $8.79. Windstream Holdings has a 52-week low of $4.75 and a 52-week high of $10.46.
Windstream Holdings (NYSE:WIN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.36. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted ($1.13) earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that Windstream Holdings will post $0.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Wednesday, September 28th.
A number of institutional investors have recently modified their holdings of WIN. Vanguard Group Inc. boosted its position in Windstream Holdings by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,902,527 shares of the company’s stock worth $101,066,000 after buying an additional 478,583 shares during the last quarter. BlackRock Fund Advisors boosted its position in Windstream Holdings by 28.8% in the second quarter. BlackRock Fund Advisors now owns 5,529,408 shares of the company’s stock worth $51,258,000 after buying an additional 1,237,004 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Windstream Holdings by 19.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,295,579 shares of the company’s stock worth $30,550,000 after buying an additional 532,353 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 last quarter. Finally, Bank of New York Mellon Corp boosted its position in Windstream Holdings by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 1,688,148 shares of the company’s stock worth $15,650,000 after buying an additional 132,599 shares during the last quarter.
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