Windstream (WIN) Bond Prices Rise 2.5%

An issue of Windstream Holdings Inc (NASDAQ:WIN) bonds rose 2.5% against their face value during trading on Thursday. The high-yield debt issue has a 10.5% coupon and is set to mature on June 30, 2024. The bonds in the issue are now trading at $84.50 and were trading at $82.50 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

A number of research firms have weighed in on WIN. ValuEngine lowered shares of Windstream from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research lowered shares of Windstream from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Citigroup lowered shares of Windstream from a “neutral” rating to a “sell” rating and set a $2.25 target price on the stock. in a report on Wednesday, July 18th. Cowen reissued a “buy” rating and set a $8.00 target price on shares of Windstream in a report on Friday, August 10th. Finally, Bank of America reduced their price objective on shares of Windstream from $7.50 to $4.50 and set an “underperform” rating on the stock in a research note on Monday, August 13th. Seven equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.98.

Shares of NASDAQ:WIN traded down $0.09 during trading on Friday, reaching $5.02. The stock had a trading volume of 719,467 shares, compared to its average volume of 467,003. Windstream Holdings Inc has a 52 week low of $3.03 and a 52 week high of $13.65. The firm has a market cap of $195.80 million, a P/E ratio of -0.62 and a beta of 0.09.

Windstream (NASDAQ:WIN) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported ($2.57) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.58) by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company posted ($2.75) earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts expect that Windstream Holdings Inc will post -10.62 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of WIN. CQS Cayman LP bought a new position in Windstream during the third quarter worth $4,967,000. BlackRock Inc. boosted its stake in Windstream by 8.2% during the third quarter. BlackRock Inc. now owns 3,903,417 shares of the technology company’s stock worth $19,125,000 after acquiring an additional 295,130 shares in the last quarter. Algert Global LLC bought a new position in Windstream during the second quarter worth $1,086,000. American Century Companies Inc. bought a new position in Windstream during the third quarter worth $842,000. Finally, Allianz Asset Management GmbH boosted its stake in Windstream by 133.2% during the first quarter. Allianz Asset Management GmbH now owns 197,598 shares of the technology company’s stock worth $279,000 after acquiring an additional 112,870 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors and hedge funds.

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About Windstream (NASDAQ:WIN)

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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