Consolidated Communications (NASDAQ:CNSL) announced its quarterly earnings data on Thursday. The utilities provider reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05, Briefing.com reports. The business had revenue of $333.53 million for the quarter, compared to analyst estimates of $333.65 million. Consolidated Communications had a negative net margin of 3.39% and a negative return on equity of 5.87%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS.
NASDAQ CNSL traded up $0.37 during mid-day trading on Friday, hitting $5.13. The company’s stock had a trading volume of 1,309,542 shares, compared to its average volume of 1,021,180. Consolidated Communications has a 52-week low of $3.91 and a 52-week high of $14.23. The company has a fifty day moving average price of $4.92. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 6.14. The stock has a market cap of $339.58 million, a price-to-earnings ratio of -12.21 and a beta of 1.15.
In other Consolidated Communications news, CEO C Robert Udell, Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average price of $4.34 per share, for a total transaction of $43,400.00. Following the completion of the acquisition, the chief executive officer now owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Research & Management Co. purchased a new position in Consolidated Communications in the first quarter valued at approximately $33,000. Macquarie Group Ltd. acquired a new stake in Consolidated Communications in the fourth quarter valued at approximately $87,000. Advisor Group Inc. grew its position in Consolidated Communications by 164.3% in the fourth quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 5,603 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in Consolidated Communications in the first quarter valued at approximately $126,000. Finally, Raymond James Trust N.A. acquired a new stake in Consolidated Communications in the first quarter valued at approximately $129,000. Hedge funds and other institutional investors own 74.21% of the company’s stock.
Several research analysts have recently weighed in on CNSL shares. TheStreet lowered shares of Consolidated Communications from a “c-” rating to a “d+” rating in a report on Friday, April 26th. BidaskClub upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine upgraded shares of Consolidated Communications from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James lowered shares of Consolidated Communications to a “market perform” rating in a report on Thursday, April 25th. Finally, Guggenheim lowered shares of Consolidated Communications from a “neutral” rating to a “sell” rating and cut their price target for the company from $8.00 to $4.00 in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Consolidated Communications currently has an average rating of “Buy” and a consensus price target of $5.92.
About Consolidated Communications
Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.
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