ValuEngine downgraded shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a sell rating in a research note released on Sunday, December 31st.
Several other analysts have also recently weighed in on CNSL. Zacks Investment Research cut Consolidated Communications from a hold rating to a sell rating in a report on Tuesday, November 7th. Jefferies Group dropped their price objective on Consolidated Communications from $21.00 to $19.00 and set a hold rating for the company in a report on Friday, November 3rd. Finally, Cowen reaffirmed a hold rating and issued a $21.00 price objective on shares of Consolidated Communications in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $22.00.
Consolidated Communications (CNSL) opened at $12.51 on Friday. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. Consolidated Communications has a one year low of $12.03 and a one year high of $26.79. The firm has a market capitalization of $877.66, a P/E ratio of -23.17, a price-to-earnings-growth ratio of 22.76 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a yield of 12.37%. Consolidated Communications’s dividend payout ratio is currently -287.04%.
In other Consolidated Communications news, Director Robert J. Currey bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $13.43 per share, for a total transaction of $67,150.00. Following the transaction, the director now directly owns 45,995 shares in the company, valued at $617,712.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Gerke bought 6,850 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average price of $14.63 per share, for a total transaction of $100,215.50. Following the transaction, the director now owns 12,667 shares in the company, valued at $185,318.21. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,550 shares of company stock worth $247,203 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Consolidated Communications by 0.3% during the 2nd quarter. BlackRock Inc. now owns 7,058,156 shares of the utilities provider’s stock worth $151,539,000 after buying an additional 17,697 shares during the period. Royal Bank of Canada raised its stake in Consolidated Communications by 11.1% during the 2nd quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock worth $129,462,000 after buying an additional 601,410 shares during the period. Vanguard Group Inc. raised its stake in Consolidated Communications by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock worth $121,425,000 after buying an additional 48,111 shares during the period. Dimensional Fund Advisors LP raised its stake in Consolidated Communications by 37.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,643,331 shares of the utilities provider’s stock worth $50,436,000 after buying an additional 721,763 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Consolidated Communications by 15.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,730,061 shares of the utilities provider’s stock worth $33,009,000 after buying an additional 229,836 shares during the period. 70.79% of the stock is currently owned by institutional investors and hedge funds.
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About Consolidated Communications
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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