Consolidated Communications (CNSL) Stock Rating Upgraded by Zacks Investment Research

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Consolidated Communications (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

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. Wells Fargo & Co cut shares of Consolidated Communications from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $13.50 to $11.25 in a research note on Tuesday, January 8th. BidaskClub cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Raymond James cut shares of Consolidated Communications from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, February 19th. Finally, ValuEngine cut shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Consolidated Communications presently has an average rating of “Hold” and a consensus target price of $13.63.

Shares of NASDAQ:CNSL traded down $0.63 during trading on Friday, reaching $9.29. The company had a trading volume of 2,203,956 shares, compared to its average volume of 892,562. The firm has a market capitalization of $668.83 million, a price-to-earnings ratio of -22.12 and a beta of 1.09. Consolidated Communications has a 12 month low of $8.51 and a 12 month high of $14.23. The company has a debt-to-equity ratio of 5.54, a current ratio of 0.70 and a quick ratio of 0.70.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, February 21st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Consolidated Communications had a negative net margin of 3.63% and a negative return on equity of 5.80%. The company had revenue of $344.80 million during the quarter, compared to analysts’ expectations of $340.90 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Consolidated Communications will post -0.4 EPS for the current year.

Several institutional investors have recently made changes to their positions in CNSL. BlackRock Inc. boosted its stake 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 in the last quarter. Norges Bank purchased a new stake in Consolidated Communications during the 4th quarter valued at $7,010,000. Principal Financial Group Inc. boosted its position in Consolidated Communications by 11.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,060,966 shares of the utilities provider’s stock valued at $40,122,000 after buying an additional 417,662 shares during the period. Dimensional Fund Advisors LP boosted its position in Consolidated Communications by 8.3% during 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 buying an additional 314,701 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Consolidated Communications during the 4th quarter valued at $27,000. 70.77% of the stock is owned by institutional investors.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc provides business and broadband communications services. It provides integrated communication 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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