A number of other equities analysts have also recently issued reports on the company. ValuEngine upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Guggenheim set a $3.50 target price on Consolidated Communications and gave the stock a “sell” rating in a report on Friday, November 1st. Finally, Zacks Investment Research cut Consolidated Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.75.
Shares of CNSL traded up $0.22 during trading hours on Thursday, reaching $4.52. The stock had a trading volume of 19,582 shares, compared to its average volume of 955,825. Consolidated Communications has a 12 month low of $3.24 and a 12 month high of $14.23. The firm has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $4.67. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 6.35. The company has a market capitalization of $287.58 million, a price-to-earnings ratio of -10.67 and a beta of 1.17.
Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. Consolidated Communications had a negative return on equity of 2.94% and a negative net margin of 2.10%. The company had revenue of $333.33 million for the quarter, compared to analysts’ expectations of $332.52 million. During the same period last year, the business earned ($0.09) EPS. Consolidated Communications’s quarterly revenue was down 4.2% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently made changes to their positions in CNSL. NumerixS Investment Technologies Inc purchased a new stake in Consolidated Communications in the 2nd quarter worth about $38,000. Paradigm Financial Advisors LLC purchased a new stake in Consolidated Communications in the 2nd quarter worth about $51,000. Meeder Asset Management Inc. increased its holdings in Consolidated Communications by 312.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,717 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 8,876 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Consolidated Communications by 42.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,528 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 3,744 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Consolidated Communications in the 2nd quarter worth about $70,000. 78.78% of the stock is owned by institutional investors.
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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