Equities research analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to announce sales of $340.50 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Consolidated Communications’ earnings. The highest sales estimate is $341.50 million and the lowest is $339.50 million. Consolidated Communications reported sales of $356.36 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Consolidated Communications will report full year sales of $1.39 billion for the current financial year, with estimates ranging from $1.39 billion to $1.40 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.34 billion, with estimates ranging from $1.34 billion to $1.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Consolidated Communications.
Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. Consolidated Communications had a negative return on equity of 4.56% and a net margin of 4.46%. The firm had revenue of $348.06 million for the quarter, compared to analyst estimates of $345.10 million. Consolidated Communications’s quarterly revenue was down 4.2% compared to the same quarter last year.
Several equities analysts recently issued reports on CNSL shares. Zacks Investment Research lowered Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. BidaskClub raised Consolidated Communications from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Finally, ValuEngine raised Consolidated Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Consolidated Communications presently has an average rating of “Buy” and an average price target of $13.67.
CNSL traded down $0.71 on Friday, hitting $12.19. 1,546,471 shares of the stock traded hands, compared to its average volume of 689,828. Consolidated Communications has a 52 week low of $10.31 and a 52 week high of $14.23. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.71. The firm has a market capitalization of $980.41 million, a price-to-earnings ratio of 46.88 and a beta of 0.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be issued a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a yield of 12.70%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s payout ratio is 596.15%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its holdings in Consolidated Communications by 85.5% during the second quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 4,700 shares in the last quarter. Amalgamated Bank acquired a new stake in Consolidated Communications during the second quarter valued at approximately $126,000. S. Muoio & CO. LLC acquired a new stake in Consolidated Communications during the second quarter valued at approximately $135,000. Saba Capital Management L.P. acquired a new stake in Consolidated Communications during the second quarter valued at approximately $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Consolidated Communications during the second quarter valued at approximately $170,000. 71.53% of the stock is currently owned by institutional investors.
About Consolidated Communications
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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