BidaskClub lowered shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) from a hold rating to a sell rating in a research report sent to investors on Wednesday, July 19th.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Consolidated Communications Holdings from a hold rating to a sell rating in a report on Tuesday, May 30th. UBS AG raised shares of Consolidated Communications Holdings to a strong-buy rating in a report on Friday, June 9th. Citigroup Inc. upgraded shares of Consolidated Communications Holdings from a sell rating to a neutral rating in a research report on Wednesday, June 7th. 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 on the stock in a research report on Friday, June 9th. Finally, Wells Fargo & Company restated an outperform rating on shares of Consolidated Communications Holdings in a research report on Wednesday, March 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $25.60.
Consolidated Communications Holdings (NASDAQ:CNSL) traded down 3.05% on Wednesday, hitting $19.06. 654,686 shares of the stock traded hands. The stock has a 50-day moving average of $19.30 and a 200-day moving average of $21.94. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 6353.33 and a beta of 0.91. Consolidated Communications Holdings has a 12-month low of $17.41 and a 12-month high of $30.23.
Consolidated Communications Holdings (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Consolidated Communications Holdings had a net margin of 0.09% and a return on equity of 15.30%. The firm had revenue of $169.95 million for the quarter, compared to analyst estimates of $169.69 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts forecast that Consolidated Communications Holdings will post $0.55 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be issued a dividend of $0.3874 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 8.13%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is currently 15,500.00%.
In other news, Director Richard Anthony Lumpkin bought 5,300 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $19.17 per share, with a total value of $101,601.00. Following the completion of the purchase, the director now owns 12,667 shares of the company’s stock, valued at $242,826.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Currey bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $19.33 per share, with a total value of $96,650.00. Following the completion of the purchase, the director now directly owns 48,495 shares of the company’s stock, valued at approximately $937,408.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,300 shares of company stock worth $217,151 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CNSL. Hanson McClain Inc. increased its stake in shares of Consolidated Communications Holdings by 0.3% in the first quarter. Hanson McClain Inc. now owns 12,383 shares of the utilities provider’s stock valued at $290,000 after buying an additional 34 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Consolidated Communications Holdings by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 20,288 shares of the utilities provider’s stock valued at $436,000 after buying an additional 64 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Consolidated Communications Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the utilities provider’s stock valued at $444,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Consolidated Communications Holdings by 0.4% in the second quarter. Arizona State Retirement System now owns 26,462 shares of the utilities provider’s stock valued at $568,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Consolidated Communications Holdings by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,590 shares of the utilities provider’s stock valued at $130,000 after buying an additional 110 shares in the last quarter. 67.72% of the stock is owned by institutional investors and hedge funds.
About Consolidated Communications Holdings
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.
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