Legal & General Group Plc lifted its stake in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,314 shares of the utilities provider’s stock after purchasing an additional 1,586 shares during the period. Legal & General Group Plc owned about 0.23% of Consolidated Communications worth $1,654,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CNSL. Oregon Public Employees Retirement Fund bought a new position in shares of Consolidated Communications in the fourth quarter worth about $27,000. Advisor Group Inc. grew its holdings in Consolidated Communications by 164.3% during the 4th quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 5,603 shares in the last quarter. JNBA Financial Advisors bought a new position in Consolidated Communications during the 4th quarter worth about $109,000. Econ Financial Services Corp bought a new position in Consolidated Communications during the 4th quarter worth about $118,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Consolidated Communications during the 4th quarter worth about $144,000. Hedge funds and other institutional investors own 70.77% of the company’s stock.
Several brokerages have issued reports on CNSL. Zacks Investment Research upgraded shares of Consolidated Communications from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Wells Fargo & Co cut shares of Consolidated Communications from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $13.50 to $11.25 in a report on Tuesday, January 8th. BidaskClub upgraded shares of Consolidated Communications from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Raymond James cut shares of Consolidated Communications from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, February 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $13.63.
Shares of Consolidated Communications stock opened at $9.29 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54. Consolidated Communications Holdings Inc has a 1 year low of $8.51 and a 1 year high of $14.23.
Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, February 21st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Consolidated Communications had a negative net margin of 3.63% and a negative return on equity of 5.80%. The company had revenue of $344.80 million for the quarter, compared to analysts’ expectations of $340.90 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts expect that Consolidated Communications Holdings Inc will post -0.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a $0.3874 dividend. This is a boost from Consolidated Communications’s previous quarterly dividend of $0.39. This represents a $1.55 dividend on an annualized basis and a dividend yield of 16.68%. The ex-dividend date of this dividend is Friday, April 12th. Consolidated Communications’s dividend payout ratio (DPR) is currently -369.05%.
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About Consolidated Communications
Consolidated Communications Holdings, Inc provides business and broadband communications services. It provides integrated communication 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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