StockNews.com Begins Coverage on Consolidated Communications (NASDAQ:CNSL)

Research analysts at StockNews.com assumed coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a note issued to investors on Wednesday. The firm set a “sell” rating on the utilities provider’s stock.

Consolidated Communications Stock Performance

CNSL stock opened at $4.27 on Wednesday. Consolidated Communications has a one year low of $2.93 and a one year high of $4.65. The firm has a market cap of $505.70 million, a price-to-earnings ratio of -1.64 and a beta of 1.14. The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day simple moving average of $4.30 and a two-hundred day simple moving average of $4.31.

Consolidated Communications (NASDAQ:CNSL) last posted its earnings results on Tuesday, March 5th. The utilities provider reported ($0.27) EPS for the quarter. Consolidated Communications had a negative net margin of 22.53% and a negative return on equity of 16.89%. The firm had revenue of $275.18 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC acquired a new position in shares of Consolidated Communications during the fourth quarter valued at about $6,871,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Consolidated Communications by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock worth $7,869,000 after buying an additional 153,318 shares during the period. Swiss National Bank grew its holdings in shares of Consolidated Communications by 3.0% during the third quarter. Swiss National Bank now owns 166,647 shares of the utilities provider’s stock valued at $570,000 after buying an additional 4,800 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Consolidated Communications by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock valued at $21,442,000 after acquiring an additional 128,005 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Consolidated Communications in the 4th quarter worth $239,000. 79.98% of the stock is owned by institutional investors and hedge funds.

About Consolidated Communications

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.