EarthLink Holdings Corp. (ELNK) Shares Down 1.2%
EarthLink Holdings Corp. (NASDAQ:ELNK) shares fell 1.2% on Wednesday . The stock traded as low as $5.92 and last traded at $5.97, with a volume of 573,220 shares. The stock had previously closed at $6.04.
Several brokerages recently weighed in on ELNK. B. Riley reaffirmed a “buy” rating and issued a $10.00 target price on shares of EarthLink Holdings Corp. in a research report on Thursday, August 4th. Zacks Investment Research lowered EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 20th. Mitsubishi UFJ Financial Group lowered EarthLink Holdings Corp. from a “neutral” rating to an “underweight” rating in a research report on Friday, June 10th. Finally, Barclays PLC increased their target price on EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. EarthLink Holdings Corp. has a consensus rating of “Hold” and a consensus price target of $10.44.
The company’s market cap is $629.80 million. The company’s 50-day moving average is $6.41 and its 200-day moving average is $6.24.
EarthLink Holdings Corp. (NASDAQ:ELNK) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $240.40 million for the quarter, compared to analysts’ expectations of $246.40 million. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, equities research analysts anticipate that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio (DPR) is currently -181.82%.
In related news, EVP Rick C. Froehlich sold 31,499 shares of EarthLink Holdings Corp. stock in a transaction on Monday, September 12th. The shares were sold at an average price of $6.33, for a total value of $199,388.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ELNK. Vanguard Group Inc. boosted its stake in EarthLink Holdings Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 14,817,760 shares of the company’s stock valued at $94,834,000 after buying an additional 111,979 shares during the period. Renaissance Technologies LLC boosted its stake in shares of EarthLink Holdings Corp. by 2.0% in the first quarter. Renaissance Technologies LLC now owns 8,173,139 shares of the company’s stock worth $46,342,000 after buying an additional 158,700 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of EarthLink Holdings Corp. by 55.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,177,969 shares of the company’s stock worth $26,739,000 after buying an additional 1,493,880 shares during the period. First Trust Advisors LP boosted its stake in shares of EarthLink Holdings Corp. by 1.1% in the second quarter. First Trust Advisors LP now owns 3,742,244 shares of the company’s stock worth $23,950,000 after buying an additional 41,405 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of EarthLink Holdings Corp. by 3.4% in the first quarter. Royce & Associates LP now owns 3,168,130 shares of the company’s stock worth $17,963,000 after buying an additional 105,500 shares during the period. Institutional investors and hedge funds own 89.02% of the company’s stock.
EarthLink Holdings Corp. Company Profile
EarthLink, Inc (EarthLink), is a network, communications and information technology (IT) services provider to business and residential customers in the United States. The Company operates in two segments: Business Services and Consumer Services. EarthLink’s Business Services segment provides a range of data, voice, managed IT and equipment services to business customers.
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