Todays Report: Today, EarthLink Holdings Corp. (ELNK) Cut to “Hold” at Drexel Hamilton

Today, EarthLink Holdings Corp. (ELNK) Cut to “Hold” at Drexel Hamilton

EarthLink Holdings Corp. (NASDAQ:ELNK) was downgraded by analysts at Drexel Hamilton from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other research firms also recently commented on ELNK. B. Riley reaffirmed a “buy” rating and issued a $10.00 price objective on shares of EarthLink Holdings Corp. in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 11th. Barclays PLC upped their price objective on shares of EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Finally, Cowen and Company began coverage on shares of EarthLink Holdings Corp. in a report on Monday, October 17th. They issued an “outperform” rating and a $8.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $9.53.

EarthLink Holdings Corp. (NASDAQ:ELNK) opened at 5.72 on Tuesday. The company’s 50-day moving average is $5.71 and its 200 day moving average is $6.25. The stock’s market capitalization is $603.40 million. EarthLink Holdings Corp. has a 1-year low of $4.85 and a 1-year high of $9.26.

EarthLink Holdings Corp. (NASDAQ:ELNK) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.09. The business earned $235.10 million during the quarter, compared to analysts’ expectations of $232.44 million. EarthLink Holdings Corp. had a negative net margin of 0.01% and a negative return on equity of 14.46%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. Equities analysts predict that EarthLink Holdings Corp. will post $0.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, December 19th. EarthLink Holdings Corp.’s dividend payout ratio is currently -2,000.00%.

In related news, EVP Rick C. Froehlich sold 31,499 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $6.33, for a total value of $199,388.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its position in EarthLink Holdings Corp. by 1.8% in the third quarter. Suntrust Banks Inc. now owns 18,680 shares of the company’s stock worth $115,000 after buying an additional 337 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in EarthLink Holdings Corp. by 3.2% in the third quarter. BlackRock Japan Co. Ltd now owns 18,118 shares of the company’s stock worth $112,000 after buying an additional 568 shares in the last quarter. Principal Financial Group Inc. boosted its position in EarthLink Holdings Corp. by 3.7% in the second quarter. Principal Financial Group Inc. now owns 20,213 shares of the company’s stock worth $129,000 after buying an additional 720 shares in the last quarter. Commonwealth Equity Services Inc boosted 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. Finally, Aperio Group LLC boosted its position in EarthLink Holdings Corp. by 3.1% in the third quarter. Aperio Group LLC now owns 39,194 shares of the company’s stock worth $243,000 after buying an additional 1,164 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

About EarthLink Holdings Corp.

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