Analysts forecast that Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) will report $169.01 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Consolidated Communications Holdings’ earnings. The highest sales estimate is $170.00 million and the lowest is $168.22 million. Consolidated Communications Holdings posted sales of $186.87 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.6%. The business is expected to report its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Consolidated Communications Holdings will report full year sales of $169.01 million for the current financial year, with estimates ranging from $670.90 million to $676.10 million. For the next year, analysts anticipate that the firm will post sales of $664.30 million per share, with estimates ranging from $656.00 million to $672.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Consolidated Communications Holdings.
Consolidated Communications Holdings (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.04. The company had revenue of $169.90 million during the quarter, compared to analyst estimates of $171.22 million. Consolidated Communications Holdings had a net margin of 0.48% and a return on equity of 14.49%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS.
CNSL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Raymond James Financial, Inc. raised shares of Consolidated Communications Holdings from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research report on Friday, March 10th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Consolidated Communications Holdings in a research report on Wednesday, March 29th. Jefferies Group LLC lowered their price objective on shares of Consolidated Communications Holdings from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, February 24th. Finally, Citigroup Inc. raised shares of Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a research report on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.67.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in Consolidated Communications Holdings during the first quarter valued at approximately $100,000. State of Alaska Department of Revenue increased its stake in Consolidated Communications Holdings by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,590 shares of the utilities provider’s stock valued at $130,000 after buying an additional 110 shares in the last quarter. Taylor Wealth Management Partners increased its stake in Consolidated Communications Holdings by 196.3% in the first quarter. Taylor Wealth Management Partners now owns 8,302 shares of the utilities provider’s stock valued at $194,000 after buying an additional 5,500 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Consolidated Communications Holdings during the fourth quarter valued at approximately $204,000. Finally, Tudor Investment Corp Et Al acquired a new stake in Consolidated Communications Holdings during the fourth quarter valued at approximately $242,000. 68.07% of the stock is owned by institutional investors.
Shares of Consolidated Communications Holdings (NASDAQ CNSL) traded up 2.04% during trading on Friday, hitting $21.47. 947,143 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $20.92 and its 200 day moving average is $24.23. Consolidated Communications Holdings has a 1-year low of $19.27 and a 1-year high of $30.23. The firm has a market capitalization of $1.09 billion, a PE ratio of 363.90 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Saturday, July 15th will be given a $0.3874 dividend. This represents a $1.55 annualized dividend and a yield of 7.22%. The ex-dividend date is Wednesday, July 12th. Consolidated Communications Holdings’s dividend payout ratio is 2,214.29%.
About Consolidated Communications Holdings
Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.
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