Windstream (WIN) Bonds Drop 1% During Trading

An issue of Windstream Holdings Inc (NASDAQ:WIN) debt fell 1% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 7.75% coupon and is set to mature on October 15, 2020. The debt is now trading at $91.25. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

WIN has been the topic of several research reports. Zacks Investment Research raised Windstream from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Deutsche Bank upped their target price on Windstream from $2.00 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, May 30th. Morgan Stanley upped their target price on Windstream from $2.00 to $10.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 29th. Guggenheim initiated coverage on Windstream in a research report on Tuesday, March 13th. They issued a “sell” rating and a $1.35 target price on the stock. Finally, ValuEngine downgraded Windstream from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Windstream has a consensus rating of “Hold” and an average target price of $5.17.

NASDAQ:WIN traded down $0.31 during trading hours on Monday, reaching $6.39. 855,685 shares of the company were exchanged, compared to its average volume of 646,826. The company has a market capitalization of $274.14 million, a P/E ratio of -0.78 and a beta of 0.07. Windstream Holdings Inc has a 1-year low of $5.36 and a 1-year high of $21.35. The company has a debt-to-equity ratio of -7.87, a current ratio of 0.73 and a quick ratio of 0.66.

Windstream (NASDAQ:WIN) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.06). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Windstream had a negative return on equity of 191.89% and a negative net margin of 35.79%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.89) EPS. sell-side analysts anticipate that Windstream Holdings Inc will post -11.55 EPS for the current fiscal year.

In related news, Director Michael G. Stoltz sold 29,734 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $1.58, for a total transaction of $46,979.72. Following the sale, the director now owns 136,212 shares of the company’s stock, valued at $215,214.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.95% of the company’s stock.

A number of large investors have recently modified their holdings of WIN. JPMorgan Chase & Co. grew its position in Windstream by 1,151.7% during the first quarter. JPMorgan Chase & Co. now owns 6,228,135 shares of the technology company’s stock worth $8,781,000 after buying an additional 5,730,564 shares in the last quarter. California Public Employees Retirement System lifted its stake in Windstream by 38.0% during the fourth quarter. California Public Employees Retirement System now owns 2,322,351 shares of the technology company’s stock worth $4,296,000 after purchasing an additional 639,627 shares during the last quarter. Tibra Equities Europe Ltd bought a new stake in Windstream during the first quarter worth $819,000. Royce & Associates LP lifted its stake in Windstream by 17.7% during the fourth quarter. Royce & Associates LP now owns 2,762,415 shares of the technology company’s stock worth $5,110,000 after purchasing an additional 415,663 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Windstream by 148.1% during the fourth quarter. Wells Fargo & Company MN now owns 652,756 shares of the technology company’s stock worth $1,208,000 after purchasing an additional 389,632 shares during the last quarter.

Windstream Company Profile

Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its Consumer & Small Business segment offers services, including traditional local and long-distance voice services, and high-speed Internet services; and value-added services, such as security and online back-up.

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