Zacks Investment Research lowered shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a sell rating in a research report report published on Wednesday, September 12th.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
CNSL has been the subject of a number of other research reports. BidaskClub upgraded Consolidated Communications from a sell rating to a hold rating in a research note on Tuesday, June 19th. ValuEngine raised shares of Consolidated Communications from a strong sell rating to a sell rating in a research report on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Consolidated Communications presently has a consensus rating of Hold and an average price target of $14.50.
Shares of CNSL traded down $0.09 during trading hours on Wednesday, hitting $13.22. The stock had a trading volume of 330,365 shares, compared to its average volume of 789,959. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $929.13 million, a PE ratio of 50.85 and a beta of 0.70. Consolidated Communications has a 1-year low of $10.31 and a 1-year high of $20.47.
Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, August 2nd. The utilities provider reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.01). The firm had revenue of $350.22 million during the quarter, compared to analyst estimates of $351.29 million. Consolidated Communications had a net margin of 3.47% and a negative return on equity of 3.15%. Analysts expect that Consolidated Communications will post -0.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 15th will be issued a $0.387 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.71%. Consolidated Communications’s dividend payout ratio (DPR) is presently 596.15%.
Several large investors have recently bought and sold shares of CNSL. Hsbc Holdings PLC bought a new stake in shares of Consolidated Communications in the 1st quarter worth approximately $119,000. Profund Advisors LLC bought a new stake in shares of Consolidated Communications in the 1st quarter worth approximately $122,000. Amalgamated Bank bought a new stake in shares of Consolidated Communications in the 2nd quarter worth approximately $126,000. Macquarie Group Ltd. raised its holdings in shares of Consolidated Communications by 85.5% in the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 4,700 shares during the period. Finally, S. Muoio & CO. LLC bought a new stake in shares of Consolidated Communications in the 2nd quarter worth approximately $135,000. 71.34% of the stock is currently owned by institutional investors.
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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