Windstream Holdings Inc (NYSE:WIN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $9.50 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 13.37% 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. Also, it's recent plan to strengthen its fixed wireless networks services by upgrading it with millimeter wave radio technology bodes well with its expansion efforts. However, Windstream’s highly leveraged balance sheet, diminishing access lines, losses in the wholesale business and stringent regulatory measures are the near-term risks.”
Other analysts also recently issued reports about the company. Jefferies Group reaffirmed a “sell” rating on shares of Windstream Holdings in a research report on Sunday, July 17th. Raymond James Financial Inc. reaffirmed an “underperform” rating on shares of Windstream Holdings in a research report on Friday, August 5th. Citigroup Inc. reaffirmed a “neutral” rating and set a $10.00 price target on shares of Windstream Holdings in a research report on Tuesday, July 5th. Finally, Cowen and Company assumed coverage on Windstream Holdings in a research report on Thursday. They set a “market perform” rating and a $9.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.63.
Shares of Windstream Holdings (NYSE:WIN) opened at 8.38 on Thursday. The company’s market capitalization is $806.69 million. Windstream Holdings has a 52-week low of $4.75 and a 52-week high of $10.46. The stock’s 50 day moving average price is $9.21 and its 200-day moving average price is $8.82.
Windstream Holdings (NYSE:WIN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.36. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.13) earnings per share. On average, equities analysts expect that Windstream Holdings will post $0.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 7.16%. The ex-dividend date is Wednesday, September 28th.
A number of hedge funds have recently added to or reduced their stakes in WIN. California State Teachers Retirement System increased its stake in Windstream Holdings by 3.5% in the second quarter. California State Teachers Retirement System now owns 201,388 shares of the company’s stock worth $1,867,000 after buying an additional 6,900 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Windstream Holdings during the second quarter valued at $157,000. State Board of Administration of Florida Retirement System boosted its position in shares of Windstream Holdings by 5.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 85,187 shares of the company’s stock valued at $790,000 after buying an additional 4,540 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Windstream Holdings by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,323 shares of the company’s stock valued at $161,000 after buying an additional 447 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Windstream Holdings by 40.6% in the second quarter. JPMorgan Chase & Co. now owns 2,385,541 shares of the company’s stock valued at $22,114,000 after buying an additional 688,770 shares during the period.