Consolidated Communications (CNSL) Hits New 52-Week High and Low at $10.70

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s share price reached a new 52-week high and low during mid-day trading on Monday . The stock traded as low as $10.70 and last traded at $10.70, with a volume of 323609 shares trading hands. The stock had previously closed at $10.96.

Several equities research analysts recently commented on CNSL shares. Drexel Hamilton raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. They noted that the move was a valuation call. BidaskClub raised shares of Consolidated Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 28th. Cowen reissued a “hold” rating and issued a $14.00 price target on shares of Consolidated Communications in a report on Friday, March 2nd. Zacks Investment Research raised shares of Consolidated Communications from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, ValuEngine lowered shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and an average target price of $17.50.

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The firm has a market capitalization of $775.72, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 98.74 and a beta of 0.75. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.83 and a current ratio of 0.83.

Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $356.40 million during the quarter, compared to analysts’ expectations of $356.72 million. Consolidated Communications had a return on equity of 2.83% and a net margin of 6.13%. Consolidated Communications’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. analysts anticipate that Consolidated Communications Holdings, Inc. will post 0.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Sunday, April 15th will be issued a dividend of $0.3874 per share. This is a positive change from Consolidated Communications’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, April 12th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 14.80%. Consolidated Communications’s dividend payout ratio is presently 596.15%.

Several institutional investors have recently added to or reduced their stakes in CNSL. Goldentree Asset Management LP purchased a new stake in shares of Consolidated Communications during the fourth quarter worth $11,537,000. JPMorgan Chase & Co. grew its holdings in shares of Consolidated Communications by 619,367.3% during the third quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock worth $17,758,000 after buying an additional 910,470 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Consolidated Communications by 56.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,289,101 shares of the utilities provider’s stock worth $27,903,000 after buying an additional 825,776 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of Consolidated Communications by 62.1% during the fourth quarter. Private Management Group Inc. now owns 2,135,922 shares of the utilities provider’s stock worth $26,037,000 after buying an additional 818,559 shares in the last quarter. Finally, Sirios Capital Management L P grew its holdings in shares of Consolidated Communications by 263.4% during the fourth quarter. Sirios Capital Management L P now owns 1,007,859 shares of the utilities provider’s stock worth $12,286,000 after buying an additional 730,515 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.

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About Consolidated Communications

Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.

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