Brokerages expect that Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) will report sales of $167.90 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Consolidated Communications Holdings’ earnings, with the highest sales estimate coming in at $169.00 million and the lowest estimate coming in at $166.79 million. Consolidated Communications Holdings reported sales of $191.54 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Consolidated Communications Holdings will report full year sales of $167.90 million for the current fiscal year, with estimates ranging from $670.90 million to $676.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $664.30 million per share, with estimates ranging from $656.00 million to $672.60 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Consolidated Communications Holdings.
Consolidated Communications Holdings (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Consolidated Communications Holdings had a net margin of 0.48% and a return on equity of 14.49%. The company had revenue of $169.95 million during the quarter, compared to analysts’ expectations of $169.69 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis.
Several analysts have recently commented on the stock. BidaskClub cut shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research cut shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. UBS AG upgraded shares of Consolidated Communications Holdings to a “strong-buy” rating in a research note on Friday, June 9th. Citigroup Inc. upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a research note on Wednesday, June 7th. Finally, Raymond James Financial, Inc. upgraded shares of Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.50.
Hedge funds have recently made changes to their positions in the stock. ING Groep NV bought a new stake in shares of Consolidated Communications Holdings during the first quarter valued at approximately $3,263,000. Great West Life Assurance Co. Can boosted its stake in shares of Consolidated Communications Holdings by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 71,024 shares of the utilities provider’s stock valued at $1,663,000 after buying an additional 5,346 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in shares of Consolidated Communications Holdings by 50.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 44,200 shares of the utilities provider’s stock valued at $1,035,000 after buying an additional 14,900 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Consolidated Communications Holdings by 3.9% in the first quarter. Wells Fargo & Company MN now owns 108,905 shares of the utilities provider’s stock valued at $2,550,000 after buying an additional 4,132 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Consolidated Communications Holdings by 2.8% in the first quarter. North Star Investment Management Corp. now owns 104,021 shares of the utilities provider’s stock valued at $2,436,000 after buying an additional 2,790 shares during the period. Hedge funds and other institutional investors own 67.14% of the company’s stock.
Consolidated Communications Holdings (NASDAQ:CNSL) traded up 5.48% on Friday, reaching $19.63. 789,864 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $19.74 and a 200-day moving average price of $22.42. The company has a market capitalization of $995.89 million, a P/E ratio of 332.71 and a beta of 0.91. Consolidated Communications Holdings has a 1-year low of $17.41 and a 1-year high of $30.23.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Sunday, October 15th will be paid a $0.3874 dividend. This represents a $1.55 annualized dividend and a dividend yield of 7.89%. The ex-dividend date of this dividend is Thursday, October 12th. Consolidated Communications Holdings’s dividend payout ratio (DPR) is 2,214.29%.
WARNING: “Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Expected to Announce Quarterly Sales of $167.90 Million” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://stocknewstimes.com/2017/08/14/consolidated-communications-holdings-inc-nasdaqcnsl-expected-to-announce-quarterly-sales-of-167-90-million-updated.html.
Consolidated Communications Holdings Company Profile
Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.
Get a free copy of the Zacks research report on Consolidated Communications Holdings (CNSL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consolidated Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
