Zacks Investment Research upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a sell rating to a hold rating in a research report sent to investors on Wednesday, January 3rd.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Consolidated Communications from a hold rating to a sell rating in a research note on Wednesday, September 6th. Cowen reaffirmed a hold rating and issued a $21.00 price objective on shares of Consolidated Communications in a research note on Thursday, October 19th. Drexel Hamilton raised Consolidated Communications from a hold rating to a buy rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. Finally, Jefferies Group lowered their target price on Consolidated Communications from $21.00 to $19.00 and set a hold rating for the company in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $22.00.
Consolidated Communications (NASDAQ:CNSL) traded down $0.06 during trading hours on Wednesday, reaching $12.45. The company’s stock had a trading volume of 1,062,200 shares, compared to its average volume of 1,413,573. Consolidated Communications has a 12 month low of $12.03 and a 12 month high of $26.79. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $877.66, a P/E ratio of -23.06, a P/E/G ratio of 22.76 and a beta of 0.74.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 15th will be issued a $0.387 dividend. This represents a $1.55 annualized dividend and a dividend yield of 12.43%. The ex-dividend date is Thursday, January 11th. Consolidated Communications’s payout ratio is currently -287.04%.
In other Consolidated Communications news, Director Thomas A. Gerke bought 6,850 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average cost of $14.63 per share, with a total value of $100,215.50. Following the purchase, the director now owns 12,667 shares in the company, valued at approximately $185,318.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert J. Currey bought 5,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $13.43 per share, with a total value of $67,150.00. Following the completion of the purchase, the director now owns 45,995 shares in the company, valued at approximately $617,712.85. The disclosure for this purchase can be found here. Insiders bought a total of 17,550 shares of company stock valued at $247,203 over the last three months. Company insiders own 3.00% of the company’s stock.
Several hedge funds have recently modified their holdings of CNSL. BlackRock Inc. grew its holdings in shares of Consolidated Communications by 0.3% in the 2nd quarter. BlackRock Inc. now owns 7,058,156 shares of the utilities provider’s stock worth $151,539,000 after acquiring an additional 17,697 shares during the period. Royal Bank of Canada grew its holdings in shares of Consolidated Communications by 11.1% in the 2nd quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock worth $129,462,000 after acquiring an additional 601,410 shares during the period. Vanguard Group Inc. grew its holdings 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 valued at $121,425,000 after buying an additional 48,111 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $50,436,000 after buying an additional 721,763 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings 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 valued at $33,009,000 after buying an additional 229,836 shares during the last quarter. 70.79% of the stock is owned by institutional investors and hedge funds.
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Consolidated Communications Company Profile
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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