Brokerages Set Consolidated Communications Holdings Inc (CNSL) Target Price at $13.67

Consolidated Communications Holdings Inc (NASDAQ:CNSL) has been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.67.

CNSL has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research report on Monday, September 3rd. BidaskClub upgraded Consolidated Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 19th. Finally, ValuEngine upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st.

CNSL stock traded up $0.47 during trading hours on Monday, hitting $13.86. 756,500 shares of the stock traded hands, compared to its average volume of 776,950. Consolidated Communications has a one year low of $10.31 and a one year high of $14.55. The stock has a market capitalization of $954.04 million, a P/E ratio of 53.31 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.71.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. Consolidated Communications had a negative return on equity of 4.56% and a net margin of 4.46%. The business had revenue of $348.06 million during the quarter, compared to analyst estimates of $345.10 million. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Consolidated Communications will post -0.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be given a $0.387 dividend. The ex-dividend date is Monday, January 14th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.17%. Consolidated Communications’s dividend payout ratio (DPR) is 596.15%.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Consolidated Communications by 8.0% in the 3rd quarter. BlackRock Inc. now owns 11,029,285 shares of the utilities provider’s stock valued at $143,823,000 after purchasing an additional 813,801 shares during the period. Vanguard Group Inc. boosted its position in shares of Consolidated Communications by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after purchasing an additional 44,238 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Consolidated Communications by 8.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,111,064 shares of the utilities provider’s stock valued at $53,608,000 after purchasing an additional 314,701 shares during the period. Principal Financial Group Inc. lifted its stake in Consolidated Communications by 43.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,256,838 shares of the utilities provider’s stock worth $35,695,000 after acquiring an additional 988,444 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in Consolidated Communications by 14.2% in the 2nd quarter. Private Management Group Inc. now owns 2,633,358 shares of the utilities provider’s stock worth $32,548,000 after acquiring an additional 326,751 shares in the last quarter. Institutional investors and hedge funds own 73.83% of the company’s stock.

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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