ValuEngine upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.
A number of other research analysts also recently commented on CNSL. Wells Fargo & Co upgraded Consolidated Communications from a market perform rating to an outperform rating and lowered their target price for the company from $11.25 to $8.00 in a research report on Friday, April 26th. TheStreet downgraded Consolidated Communications from a c- rating to a d+ rating in a research report on Friday, April 26th. BidaskClub upgraded Consolidated Communications from a hold rating to a buy rating in a research report on Thursday. Guggenheim downgraded Consolidated Communications from a neutral rating to a sell rating and lowered their target price for the company from $8.00 to $4.00 in a research report on Friday, April 26th. Finally, Zacks Investment Research upgraded Consolidated Communications from a hold rating to a strong-buy rating and set a $5.75 target price for the company in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $5.92.
CNSL stock traded up $0.37 during midday trading on Thursday, 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 12 month low of $3.91 and a 12 month high of $14.23. The company has a debt-to-equity ratio of 6.14, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $339.58 million, a price-to-earnings ratio of -12.21 and a beta of 1.15. The business has a 50 day moving average price of $4.92.
Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Consolidated Communications had a negative return on equity of 5.87% and a negative net margin of 3.39%. The business had revenue of $333.53 million during the quarter, compared to the consensus estimate of $333.65 million. During the same period in the prior year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts expect that Consolidated Communications will post -0.23 EPS for the current year.
In related news, CEO C Robert Udell, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $4.34 per share, for a total transaction of $43,400.00. Following the acquisition, the chief executive officer now owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in Consolidated Communications by 1.0% during the 4th quarter. Legal & General Group Plc now owns 167,314 shares of the utilities provider’s stock valued at $1,654,000 after buying an additional 1,586 shares during the period. Comerica Bank raised its holdings in Consolidated Communications by 3.0% during the 1st quarter. Comerica Bank now owns 72,991 shares of the utilities provider’s stock valued at $859,000 after buying an additional 2,155 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Consolidated Communications by 1.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 251,764 shares of the utilities provider’s stock valued at $2,747,000 after buying an additional 2,435 shares during the period. American Research & Management Co. purchased a new stake in Consolidated Communications during the 1st quarter valued at $33,000. Finally, SG Americas Securities LLC raised its holdings in Consolidated Communications by 5.8% during the 1st quarter. SG Americas Securities LLC now owns 59,516 shares of the utilities provider’s stock valued at $649,000 after buying an additional 3,261 shares during the period. Institutional investors own 74.21% of the company’s stock.
Consolidated Communications Company Profile
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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