Windstream (NASDAQ:WIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.
According to Zacks, “Over the past three months, share prcie of Windstream declined 12.1% compared to the industry's 0.3% gain. Moreover, 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. On the flip side, we appreciate Windstream’s focus on improving sales, cost-cutting initiatives, planned pricing initiatives which should rake in profits and check churn. Windstream is enhancing its Cloud Connect solution. Launch of a new multi-featured SD-WAN solution looks good. Expansion of Kinetic TV services in North Carolina, merger with EarthLink Holdings should rake in profits. Expansion of its metro fibre network business in the newer areas and aim to extend the deployment of G.fast technologies over traditional copper telephone wires bode well.”
Several other brokerages have also weighed in on WIN. BidaskClub raised Windstream from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.00 target price on shares of Windstream in a research report on Friday, November 24th. Barclays assumed coverage on Windstream in a research report on Friday, December 15th. They issued an “underweight” rating and a $1.50 target price on the stock. JPMorgan Chase & Co. lowered Windstream from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine lowered Windstream from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Sell” and an average price target of $2.25.
Windstream (NASDAQ:WIN) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.09). Windstream had a negative return on equity of 64.22% and a negative net margin of 6.49%. sell-side analysts expect that Windstream will post -2.19 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of WIN. 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 buying an additional 85,500 shares during the period. Magnetar Financial LLC raised its position in Windstream by 192.6% in the third quarter. Magnetar Financial LLC now owns 177,379 shares of the technology company’s stock valued at $314,000 after purchasing an additional 116,767 shares during the period. California Public Employees Retirement System raised its position in Windstream by 43.5% in the third quarter. California Public Employees Retirement System now owns 1,682,724 shares of the technology company’s stock valued at $2,978,000 after purchasing an additional 509,970 shares during the period. Finally, Royce & Associates LP raised its position in Windstream by 22.6% in the third quarter. Royce & Associates LP now owns 2,346,752 shares of the technology company’s stock valued at $4,154,000 after purchasing an additional 433,134 shares during the period. 66.27% of the stock is currently owned by institutional investors and hedge funds.
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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