Consolidated Communications (CNSL) Lowered to Buy at BidaskClub

BidaskClub lowered shares of Consolidated Communications (NASDAQ:CNSL) from a strong-buy rating to a buy rating in a report published on Wednesday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Consolidated Communications from a buy rating to a hold rating in a research report on Wednesday, August 8th. ValuEngine raised Consolidated Communications from a hold rating to a buy rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Consolidated Communications currently has an average rating of Buy and an average target price of $13.67.

Shares of CNSL opened at $11.72 on Wednesday. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.72 and a current ratio of 0.72. Consolidated Communications has a fifty-two week low of $10.31 and a fifty-two week high of $14.23.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $348.06 million for the quarter, compared to the consensus estimate of $345.10 million. Consolidated Communications had a negative return on equity of 4.56% and a net margin of 4.46%. Consolidated Communications’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Consolidated Communications will post -0.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be given a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 13.21%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s dividend payout ratio (DPR) is presently 596.15%.

Several large investors have recently bought and sold shares of the company. Macquarie Group Ltd. grew its position in shares of Consolidated Communications by 85.5% during the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 4,700 shares during the period. Schroder Investment Management Group grew its position in shares of Consolidated Communications by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 44,628 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 5,044 shares during the period. Teachers Advisors LLC grew its position in shares of Consolidated Communications by 3.2% during the 3rd quarter. Teachers Advisors LLC now owns 225,516 shares of the utilities provider’s stock valued at $2,941,000 after acquiring an additional 6,902 shares during the period. Wells Fargo & Company MN grew its position in shares of Consolidated Communications by 0.7% during the 3rd quarter. Wells Fargo & Company MN now owns 976,101 shares of the utilities provider’s stock valued at $12,728,000 after acquiring an additional 6,929 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Consolidated Communications by 4.8% during the 3rd quarter. Rhumbline Advisers now owns 170,956 shares of the utilities provider’s stock valued at $2,229,000 after acquiring an additional 7,789 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Consolidated Communications Company Profile

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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