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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.

TODAY'S FREE FLY STORIES

RCII

Rent-A-Center

$13.05

0.05 (0.38%)

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0.23 (1.02%)

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  • 17

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UN

Unilever; also tag UL

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0.06 (0.10%)

, UL

Unilever; also tag UN

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0.04 (0.07%)

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UN

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$58.97

0.06 (0.10%)

UL

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KKR

KKR

$18.31

-0.075 (-0.41%)

BX

Blackstone

$32.10

-0.07 (-0.22%)

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AAPL

Apple

$160.95

-0.65 (-0.40%)

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WeWork hires former Apple exec as chief product officer, The Information says »

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  • 23

    Aug

ALGN

Align Technology

$178.46

0.49 (0.28%)

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  • 21

    Aug

TIME

Time Inc.

$13.00

0.05 (0.39%)

11:31
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Hot Stocks
Time Inc. names Lori Leibovich editor-in-chief of Health, effective immediately »

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  • 18

    Sep

11:28
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General news
Van crashes into pedestrians in Barcelona's city center, CNBC reports »

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PRU

Prudential

$104.37

-0.84 (-0.80%)

11:27
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  • 27

    Sep

DDAIF

Daimler AG

$71.07

0.08 (0.11%)

, BMWYY

BMW

$31.23

-0.146 (-0.47%)

11:25
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Sixt CEO hints at car-sharing merger talks between BMW, Daimler, Reuters says »

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DDAIF

Daimler AG

$71.07

0.08 (0.11%)

BMWYY

BMW

$31.23

-0.146 (-0.47%)

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CRM

Salesforce

$91.84

-0.4 (-0.43%)

11:25
08/17/17
08/17
11:25
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11:25
Options
Salesforce call volume above normal and directionally bullish »

Bullish option flow…

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  • 22

    Aug

  • 05

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11:20
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11:20
General news
Treasury announced a $72 B 3- and 6-month bill sale for Monday »

Treasury announced a $72…

$NSD

NASDAQ Market Internals

11:17
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08/17
11:17
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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ADP

ADP

$111.10

-0.48 (-0.43%)

11:16
08/17/17
08/17
11:16
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11:16
Hot Stocks
Pershing calls ADP's corporate structure 'bloated and complex' »

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  • 17

    Aug

  • 11

    Sep

$NYE

NYSE Market Internals

11:16
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08/17
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Technical Analysis
NYSE market internals summary »

Volume is below average…

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GFI

Gold Fields

$4.15

0.145 (3.63%)

11:15
08/17/17
08/17
11:15
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Hot Stocks
Gold Fields jumps after saying Q2 production at South Deep up 61% »

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CTL

CenturyLink

$20.05

-0.85 (-4.07%)

11:15
08/17/17
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Options
CenturyLink put volume heavy and directionally bearish »

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PPG

PPG

$103.80

0.06 (0.06%)

11:12
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Crews called to fire at Pennsylvania PPG plant, The Sentinel says »

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DERM

Dermira

$23.34

-0.24 (-1.02%)

11:12
08/17/17
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Conference/Events
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  • 22

    Aug

VIPS

Vipshop

$10.37

-0.73 (-6.58%)

11:10
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Downgrade
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  • 17

    Aug

ADP

ADP

$111.10

-0.48 (-0.43%)

11:10
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Hot Stocks
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  • 17

    Aug

  • 11

    Sep

BA

Boeing

$237.03

-0.5604 (-0.24%)

11:10
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Hot Stocks
Boeing reports 14 new orders in weekly update »

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SPX

S&P 500

11:09
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08/17
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Periodicals
White House says Cohn intends to remain in position, CNBC reports »

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11:08
08/17/17
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Periodicals
Breaking Periodicals news story  »

Gary Cohn 'intends…

MTB

M&T Bank

$157.36

-1.24 (-0.78%)

11:07
08/17/17
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11:07
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Conference/Events
M&T Bank management to meet with Evercore ISI »

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  • 21

    Aug

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