Consolidated Communications (CNSL) Releases Earnings Results, Beats Estimates By $0.05 EPS

Consolidated Communications (NASDAQ:CNSL) announced its quarterly earnings data on Thursday. The utilities provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05, MarketWatch Earnings reports. Consolidated Communications had a net margin of 3.47% and a negative return on equity of 3.15%. The company had revenue of $348.06 million during the quarter, compared to the consensus estimate of $345.10 million. The company’s revenue for the quarter was down 4.2% on a year-over-year basis.

Shares of CNSL stock opened at $12.55 on Friday. The stock has a market cap of $892.08 million, a P/E ratio of 48.27 and a beta of 0.58. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 4.49. Consolidated Communications has a 52 week low of $10.31 and a 52 week high of $17.88.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be issued a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a dividend yield of 12.33%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s payout ratio is 596.15%.

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank bought a new stake in shares of Consolidated Communications during the 2nd quarter worth about $126,000. Macquarie Group Ltd. boosted its holdings in shares of Consolidated Communications by 85.5% during the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock worth $126,000 after buying an additional 4,700 shares during the period. S. Muoio & CO. LLC bought a new stake in shares of Consolidated Communications during the 2nd quarter worth about $135,000. Saba Capital Management L.P. bought a new stake in shares of Consolidated Communications during the 2nd quarter worth about $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Consolidated Communications during the 2nd quarter worth about $170,000. 71.63% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on CNSL shares. Zacks Investment Research raised shares of Consolidated Communications from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 17th. BidaskClub raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Finally, ValuEngine raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.50.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.

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Earnings History for Consolidated Communications (NASDAQ:CNSL)

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