$362.75 Million in Sales Expected for Consolidated Communications Holdings, Inc. (CNSL) This Quarter

Analysts expect Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) to post sales of $362.75 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Consolidated Communications Holdings’ earnings, with the highest sales estimate coming in at $368.60 million and the lowest estimate coming in at $353.90 million. Consolidated Communications Holdings posted sales of $191.54 million during the same quarter last year, which suggests a positive year over year growth rate of 89.4%. The company is expected to announce its next earnings results before the market opens on Thursday, November 2nd.

On average, analysts expect that Consolidated Communications Holdings will report full-year sales of $362.75 million for the current year, with estimates ranging from $1.05 billion to $1.07 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.44 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Consolidated Communications Holdings.

Consolidated Communications Holdings (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The company had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a net margin of 0.09% and a return on equity of 15.30%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share.

CNSL has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet lowered shares of Consolidated Communications Holdings from a “c” rating to a “d+” rating in a research note on Thursday, August 3rd. Cowen and Company restated a “hold” rating and set a $22.00 price target on shares of Consolidated Communications Holdings in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.50.

In related news, Director Richard Anthony Lumpkin acquired 5,300 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $19.17 per share, with a total value of $101,601.00. Following the completion of the acquisition, the director now directly owns 12,667 shares in the company, valued at approximately $242,826.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Currey acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the acquisition, the director now owns 48,495 shares of the company’s stock, valued at $937,408.35. The disclosure for this purchase can be found here. Insiders bought 26,688 shares of company stock worth $495,724 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new position in Consolidated Communications Holdings during the first quarter valued at $100,000. SG Americas Securities LLC purchased a new position in Consolidated Communications Holdings during the second quarter valued at $127,000. QS Investors LLC lifted its holdings in Consolidated Communications Holdings by 17,467.6% during the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 6,463 shares in the last quarter. Advisor Group Inc. lifted its holdings in Consolidated Communications Holdings by 28.7% during the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,846 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Consolidated Communications Holdings by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 10,020 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 4,430 shares in the last quarter. 67.72% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Consolidated Communications Holdings (NASDAQ CNSL) opened at 20.25 on Thursday. The company has a market cap of $1.43 billion, a P/E ratio of 6750.00 and a beta of 0.90. Consolidated Communications Holdings has a 52-week low of $17.21 and a 52-week high of $30.23. The firm has a 50-day moving average of $18.93 and a 200-day moving average of $20.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Sunday, October 15th will be paid a $0.3874 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 7.65%. Consolidated Communications Holdings’s payout ratio is currently 15,500.00%.

About Consolidated Communications Holdings

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications 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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