Consolidated Communications (NASDAQ:CNSL) Cut to Sell at BidaskClub

BidaskClub cut shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a sell rating in a research report released on Thursday, BidAskClub reports.

Separately, TheStreet raised Consolidated Communications from a d+ rating to a c rating in a report on Thursday, May 21st.

Shares of Consolidated Communications stock opened at $6.17 on Thursday. Consolidated Communications has a 52-week low of $3.24 and a 52-week high of $8.81. The stock’s 50-day simple moving average is $7.64 and its 200 day simple moving average is $6.25. The stock has a market capitalization of $450.77 million, a P/E ratio of 14.35 and a beta of 1.26. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.93 and a current ratio of 0.93.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.11. Consolidated Communications had a return on equity of 8.68% and a net margin of 1.80%. The business had revenue of $325.18 million for the quarter.

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG grew its holdings in Consolidated Communications by 168.3% during the 1st quarter. Deutsche Bank AG now owns 331,166 shares of the utilities provider’s stock valued at $1,507,000 after buying an additional 207,721 shares in the last quarter. State Street Corp grew its holdings in Consolidated Communications by 8.1% during the 1st quarter. State Street Corp now owns 2,544,914 shares of the utilities provider’s stock valued at $11,579,000 after buying an additional 189,747 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Consolidated Communications during the first quarter worth about $447,000. Federated Hermes Inc. grew its holdings in shares of Consolidated Communications by 38.7% during the second quarter. Federated Hermes Inc. now owns 218,815 shares of the utilities provider’s stock worth $1,481,000 after purchasing an additional 61,006 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Consolidated Communications by 3.4% during the first quarter. Swiss National Bank now owns 139,747 shares of the utilities provider’s stock worth $636,000 after purchasing an additional 4,600 shares in the last quarter. 77.78% of the stock is owned by institutional investors and hedge funds.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.

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