CNBC's Cramer on Windstream: 'This Company Is Challenged'
|Copyright 2014 by Virgo Publishing.|
|By: Craig Galbraith, Online Managing Editor|
|Posted on: 02/01/2014|
Business-communications provider Windstream probably isn't Jim Cramer's biggest fan this week.
In one of his Mad Money "lightning round segments" on CNBC a few days ago, the outspoken financial commentator said, "I think this company is challenged. I say sell, sell, sell."
It's hard to say if Cramer's opinion had an impact on the company's stock, but it did fall about 3 percent on Wednesday morning before regaining some of those losses in the afternoon. The market as a whole was off slightly that day.
Windstream's stock price has been in a steady decline since late 2010, when it peaked at a little more than $14 per share. It was a little less than half that as of Friday afternoon.
The company has transitioned from a provider of residential services to one focused on the enterprise. It now has a national presence in industries ranging from health care to financial services, government, education, retail and hospitality. A number of strategic acquisitions over the past few years have helped with that transition. Windstream is confident that it will rebound financially as it completes some integrations and pursues more acquisitions.
It wasn't all bad news for Windstream this week. The company announced that it received ShoreTel's Circle of Excellence Award for the 2013 partner year, recognizing Windstream for exceptional achievement in areas including customer satisfaction, revenue growth and proficiency with advanced applications.
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