StockNews.com Initiates Coverage on Consolidated Communications (NASDAQ:CNSL)

StockNews.com assumed coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a report issued on Wednesday. The firm issued a sell rating on the utilities provider’s stock.

Consolidated Communications Trading Up 0.5 %

NASDAQ:CNSL opened at $4.29 on Wednesday. The firm has a market capitalization of $508.06 million, a price-to-earnings ratio of -1.65 and a beta of 1.14. Consolidated Communications has a 1-year low of $2.93 and a 1-year high of $4.65. The business’s 50-day moving average price is $4.30 and its two-hundred day moving average price is $4.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.25.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Tuesday, March 5th. The utilities provider reported ($0.27) earnings per share for the quarter. The firm had revenue of $275.18 million for the quarter. Consolidated Communications had a negative return on equity of 16.89% and a negative net margin of 22.53%.

Hedge Funds Weigh In On Consolidated Communications

Several institutional investors have recently modified their holdings of the business. Ballentine Partners LLC bought a new position in Consolidated Communications in the fourth quarter valued at approximately $6,871,000. Charles Schwab Investment Management Inc. increased its holdings in Consolidated Communications by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock worth $7,869,000 after purchasing an additional 153,318 shares in the last quarter. Swiss National Bank raised its stake in shares of Consolidated Communications by 3.0% in the 3rd quarter. Swiss National Bank now owns 166,647 shares of the utilities provider’s stock valued at $570,000 after purchasing an additional 4,800 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Consolidated Communications by 2.1% in the third quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock valued at $21,442,000 after purchasing an additional 128,005 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Consolidated Communications during the fourth quarter worth about $239,000. Institutional investors own 79.98% of the company’s stock.

About Consolidated Communications

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.