Windstream (WIN) Bonds Drop 1.2% During Trading

An issue of Windstream Holdings, Inc. (NASDAQ:WIN) debt fell 1.2% as a percentage of its face value during trading on Wednesday. The debt issue has a 6.375% coupon and is set to mature on August 1, 2023. The debt is now trading at $58.25 and was trading at $60.50 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Several equities research analysts have recently weighed in on WIN shares. Canaccord Genuity reissued a “buy” rating and issued a $3.00 target price on shares of Windstream in a research note on Friday, November 24th. BidaskClub raised shares of Windstream from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Barclays started coverage on shares of Windstream in a research note on Friday, December 15th. They issued an “underweight” rating and a $1.50 target price on the stock. JPMorgan Chase & Co. downgraded shares of Windstream from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research downgraded shares of Windstream from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.25.

Shares of Windstream Holdings, Inc. (WIN) traded down $0.02 on Wednesday, hitting $1.65. 1,663,478 shares of the stock traded hands, compared to its average volume of 1,831,450. Windstream Holdings, Inc. has a 1-year low of $1.63 and a 1-year high of $8.25. The stock has a market capitalization of $305.45, a P/E ratio of -0.63 and a beta of -0.12. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 20.24.

Windstream (NASDAQ:WIN) last announced its earnings results on Thursday, November 9th. The technology company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.09). Windstream had a negative net margin of 6.49% and a negative return on equity of 64.22%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. sell-side analysts forecast that Windstream Holdings, Inc. will post -2.18 EPS for the current year.

A number of hedge funds have recently bought and sold shares of WIN. California Public Employees Retirement System increased its stake in Windstream by 43.5% in the 3rd quarter. California Public Employees Retirement System now owns 1,682,724 shares of the technology company’s stock worth $2,978,000 after buying an additional 509,970 shares during the period. Royce & Associates LP increased its stake in Windstream by 22.6% in the 3rd quarter. Royce & Associates LP now owns 2,346,752 shares of the technology company’s stock worth $4,154,000 after buying an additional 433,134 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Windstream by 20.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,702,798 shares of the technology company’s stock worth $3,151,000 after buying an additional 289,748 shares during the period. Magnetar Financial LLC increased its stake in Windstream by 192.6% in the 3rd quarter. Magnetar Financial LLC now owns 177,379 shares of the technology company’s stock worth $314,000 after buying an additional 116,767 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Windstream by 848,461.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 110,313 shares of the technology company’s stock worth $204,000 after buying an additional 110,300 shares during the period. 66.36% of the stock is currently owned by institutional investors.

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About Windstream

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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