BidaskClub upgraded shares of Windstream Holdings Inc (NYSE:WIN) from a strong sell rating to a sell rating in a report published on Thursday.
Other research analysts have also recently issued reports about the stock. Deutsche Bank AG cut their price target on shares of Windstream Holdings from $7.00 to $3.00 and set a hold rating for the company in a report on Tuesday, August 8th. Bank of America Corporation cut shares of Windstream Holdings from a buy rating to an underperform rating and cut their price target for the stock from $8.00 to $3.00 in a report on Friday, August 4th. UBS AG reissued a sell rating and set a $2.00 price target (down from $4.00) on shares of Windstream Holdings in a report on Monday, August 14th. Jefferies Group LLC reissued a hold rating and set a $2.50 price target (down from $5.00) on shares of Windstream Holdings in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Windstream Holdings from a sell rating to a hold rating in a report on Tuesday, August 8th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $4.27.
Shares of Windstream Holdings (WIN) opened at 1.95 on Thursday. Windstream Holdings has a 12-month low of $1.73 and a 12-month high of $9.30. The company’s market cap is $372.11 million. The firm’s 50-day moving average price is $1.99 and its 200 day moving average price is $3.80.
Windstream Holdings (NYSE:WIN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.08. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. On average, analysts predict that Windstream Holdings will post ($2.06) earnings per share for the current year.
Windstream Holdings declared that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $90.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 19.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, Director Alan L. Wells bought 68,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $2.10 per share, for a total transaction of $142,800.00. Following the completion of the transaction, the director now owns 157,971 shares of the company’s stock, valued at approximately $331,739.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony W. Thomas bought 25,381 shares of the stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $1.97 per share, for a total transaction of $50,000.57. Following the completion of the transaction, the director now directly owns 637,006 shares of the company’s stock, valued at approximately $1,254,901.82. The disclosure for this purchase can be found here. Insiders have acquired 95,381 shares of company stock worth $196,901 over the last 90 days.
Several hedge funds have recently added to or reduced their stakes in WIN. Lapides Asset Management LLC grew its position in shares of Windstream Holdings by 45.5% in the second quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock valued at $102,000 after purchasing an additional 8,200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Windstream Holdings in the first quarter valued at approximately $114,000. Cubist Systematic Strategies LLC grew its position in shares of Windstream Holdings by 175.5% in the second quarter. Cubist Systematic Strategies LLC now owns 29,780 shares of the company’s stock valued at $116,000 after purchasing an additional 18,969 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Windstream Holdings by 142.8% in the first quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock valued at $118,000 after purchasing an additional 12,774 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Windstream Holdings in the first quarter valued at approximately $120,000.
About Windstream Holdings
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.
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