Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Stake Increased by Raymond James & Associates

Raymond James & Associates grew its position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 27.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 158,856 shares of the utilities provider’s stock after purchasing an additional 34,573 shares during the period. Raymond James & Associates owned about 0.22% of Consolidated Communications worth $1,936,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Consolidated Communications by 4.1% during the 4th quarter. BlackRock Inc. now owns 9,636,982 shares of the utilities provider’s stock worth $117,474,000 after buying an additional 376,623 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Consolidated Communications by 37.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,643,331 shares of the utilities provider’s stock worth $50,436,000 after buying an additional 721,763 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Consolidated Communications by 56.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,289,101 shares of the utilities provider’s stock worth $27,903,000 after buying an additional 825,776 shares in the last quarter. Private Management Group Inc. lifted its position in Consolidated Communications by 62.1% during the 4th quarter. Private Management Group Inc. now owns 2,135,922 shares of the utilities provider’s stock worth $26,037,000 after buying an additional 818,559 shares in the last quarter. Finally, Sirios Capital Management L P lifted its position in Consolidated Communications by 263.4% during the 4th quarter. Sirios Capital Management L P now owns 1,007,859 shares of the utilities provider’s stock worth $12,286,000 after buying an additional 730,515 shares in the last quarter. Institutional investors own 74.57% of the company’s stock.

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Shares of NASDAQ:CNSL opened at $10.97 on Friday. The stock has a market cap of $784.21, a price-to-earnings ratio of 42.19, a PEG ratio of 163.34 and a beta of 0.75. Consolidated Communications Holdings, Inc. has a 1-year low of $10.31 and a 1-year high of $24.80. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.83 and a quick ratio of 0.83.



Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, March 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). The firm had revenue of $356.40 million for the quarter, compared to the consensus estimate of $356.72 million. Consolidated Communications had a return on equity of 2.83% and a net margin of 6.13%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. sell-side analysts expect that Consolidated Communications Holdings, Inc. will post 0.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Sunday, April 15th will be paid a $0.3874 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost from Consolidated Communications’s previous quarterly dividend of $0.39. This represents a $1.55 dividend on an annualized basis and a dividend yield of 14.13%. Consolidated Communications’s dividend payout ratio is 596.15%.

Several brokerages recently issued reports on CNSL. Drexel Hamilton upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. They noted that the move was a valuation call. BidaskClub upgraded shares of Consolidated Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 28th. Cowen reissued a “hold” rating and set a $14.00 price objective on shares of Consolidated Communications in a report on Friday, March 2nd. Zacks Investment Research raised Consolidated Communications from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, ValuEngine cut Consolidated Communications from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and an average price target of $17.50.

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Consolidated Communications Profile

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.

Institutional Ownership by Quarter for Consolidated Communications (NASDAQ:CNSL)

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