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WIN

Windstream

$3.72

-0.03 (-0.80%)

07:09
08/03/17
08/03
07:09
08/03/17
07:09

Windstream eliminates dividend, announces buyback up to $90M

Windstream announced its board of directors has revised the company's capital allocation strategy. The Windstream board has eliminated the company's quarterly shareholder dividend effective immediately and authorized the repurchase of up to $90M the company's common stock, effective through the first quarter of 2019. "Windstream will opportunistically purchase shares through open market purchases and pay down debt," it stated. "Our equity is undervalued especially given our improved strategic direction with enhanced product capabilities, management talent additions and anticipated acquisition synergies of $180 million. The elimination of the dividend along with the $90 million buyback program and delevering that will also occur will create value for all our stakeholders. This is the right path for our company," said Tony Thomas, CEO of Windstream.

  • 03

    Aug

WIN Windstream
$3.72

-0.03 (-0.80%)

05/17/17
05/17/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Buy from Hold at Jefferies with analyst Jason Gammel saying the company's divestitures have repaired the balance sheet faster than expected. 2. TJX (TJX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Kimberly Greensberger saying the pullback in shares following the first quarter comparable store sales miss and soft second quarter guidance creates a buying opportunity. 3. Wolverine World Wide (WWW) upgraded to Outperform from Neutral at Baird with analyst Jonathan Komp citing improving fundamentals, ongoing business initiatives, margin recovery, and an attractive risk/reward. Komp raised his price target to $30 from $29 on Wolverine World Wide shares. 4. Windstream (WIN) upgraded to Outperform from Underperform at Raymond James with analyst Frank Louthan saying the 52% selloff since August 5, 2016 appears overdone given an improved free cash flow outlook from recent acquisitions. 5. Clovis (CLVS) upgraded to Overweight from Neutral at JPMorgan with analyst Cory Kasimov saying the shares are down 35% over the last two months for "no clear fundamental reason." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/17/17
RAJA
05/17/17
UPGRADE
Target $5.25
RAJA
Outperform
Windstream upgraded to Outperform from Underperform at Raymond James
Raymond James analyst Frank Louthan upgraded Windstream to Outperform from Underperform with a $5.25 price target. The analyst said the 52% selloff since August 5, 2016 appears overdone given an improved free cash flow outlook from recent acquisitions.
03/22/17
GSCO
03/22/17
DOWNGRADE
Target $1.5
GSCO
Sell
Frontier Communications downgraded to Sell from Neutral at Goldman
Goldman Sachs analyst Brett Feldman downgraded Frontier Communications (FTR) to Sell and cut his price target for the shares to $1.50 from $3. Weakening fundamentals may cause Frontier to suspend its dividend after the Q1 payment, Feldman tells investors in a research note. He believes the company cannot both support its dividend and delever. The analyst this morning also reinstated Windstream (WIN) with a Sell rating and lowered his price target for Sell-rated CenturyLink (CTL) to $19 from $21.
03/22/17
GSCO
03/22/17
INITIATION
Target $4.5
GSCO
Sell
Windstream reinstated with a Sell at Goldman
Goldman Sachs analyst Brett Feldman reinstated Windstream shares with a Sell rating and $4.50 price target. The company's dividend has among the weakest coverage in the sector, the analyst contends. He also expects revenue and adjusted free cash flow to decline.

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SPN

Superior Energy

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Applied Materials

$57.62

1.13 (2.00%)

, AAPL

Apple

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FOX

21st Century Fox

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BABA

Alibaba

$188.00

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PANW

Palo Alto Networks

$142.53

-0.19 (-0.13%)

, CHKP

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$102.98

0.83 (0.81%)

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CHKP

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AMZN

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BIVV

Bioverativ

$50.76

-5.35 (-9.53%)

, RHHBY

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$30.82

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Recommendations
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RHHBY

Roche

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CUBI

Customers Bancorp

$27.04

0.28 (1.05%)

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T

AT&T

$34.64

0.13 (0.38%)

, TWX

Time Warner

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NGD

New Gold

$3.21

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IMI

Intermolecular

$1.31

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CMCSA

Comcast

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MLNX

Mellanox

$51.05

1 (2.00%)

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PLNT

Planet Fitness

$30.15

0.07 (0.23%)

17:58
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Initiation
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TER

Teradyne

$44.43

0.86 (1.97%)

17:57
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Downgrade
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CBS

CBS

$55.93

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17:56
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CBS News suspends Charlie Rose following sexual harassment claims, AP says 

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CBS

CBS

$55.93

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MLNX

Mellanox

$51.05

1 (2.00%)

, MRVL

Marvell

$21.59

1.3 (6.41%)

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Mellanox

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MRVL

Marvell

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CDXS

Codexis

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  • 12

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T

AT&T

$34.64

0.13 (0.38%)

, TWX

Time Warner

$87.71

-1.01 (-1.14%)

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  • 29

    Nov

BBY

Best Buy

$56.35

0.52 (0.93%)

17:45
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Conference/Events
Best Buy management to meet with SunTrust »

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T

AT&T

$34.64

0.13 (0.38%)

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Time Warner

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RELY

Real Industry

$0.52

0.1643 (45.92%)

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