Consolidated Communications (CNSL) Upgraded at BidaskClub

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BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other research firms have also commented on CNSL. ValuEngine upgraded shares of Consolidated Communications from a strong sell rating to a sell rating in a research report on Tuesday, May 22nd. Zacks Investment Research lowered shares of Consolidated Communications from a hold rating to a sell rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Consolidated Communications has an average rating of Hold and an average price target of $14.50.

NASDAQ:CNSL opened at $12.88 on Thursday. Consolidated Communications has a 1-year low of $10.31 and a 1-year high of $20.72. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 4.49.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, August 2nd. The utilities provider reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). The business had revenue of $350.22 million during the quarter, compared to analyst estimates of $351.29 million. Consolidated Communications had a negative return on equity of 3.15% and a net margin of 3.47%. equities analysts predict that Consolidated Communications will post -0.43 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 15th will be given a dividend of $0.387 per share. The ex-dividend date is Friday, October 12th. This represents a $1.55 annualized dividend and a yield of 12.02%. Consolidated Communications’s dividend payout ratio is presently 596.15%.

Hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in Consolidated Communications during the first quarter valued at $119,000. Profund Advisors LLC acquired a new stake in Consolidated Communications during the first quarter valued at $122,000. Macquarie Group Ltd. grew its position in Consolidated Communications by 85.5% during the second quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after buying an additional 4,700 shares during the period. Amalgamated Bank acquired a new stake in Consolidated Communications during the second quarter valued at $126,000. Finally, S. Muoio & CO. LLC acquired a new stake in Consolidated Communications during the second quarter valued at $135,000. Institutional investors own 71.34% of the company’s stock.

About Consolidated Communications

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.

Read More: Return on Investment (ROI)

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