Consolidated Communications Holdings Inc. (NASDAQ:CNSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
A number of other equities analysts also recently issued reports on the company. Drexel Hamilton set a $26.00 price target on Consolidated Communications Holdings and gave the stock a “hold” rating in a research report on Friday, August 5th. Citigroup Inc. increased their price target on Consolidated Communications Holdings from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Friday, August 5th. Raymond James Financial Inc. downgraded Consolidated Communications Holdings from a “market perform” rating to an “underperform” rating in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Jefferies Group reissued a “hold” rating on shares of Consolidated Communications Holdings in a research report on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.40.
Consolidated Communications Holdings (NASDAQ:CNSL) traded up 0.20% during midday trading on Monday, hitting $24.74. The company’s stock had a trading volume of 263,904 shares. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 83.30 and a beta of 1.09. The company’s 50-day moving average is $24.56 and its 200 day moving average is $25.30. Consolidated Communications Holdings has a one year low of $17.76 and a one year high of $28.78.
Consolidated Communications Holdings (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Consolidated Communications Holdings had a return on equity of 13.91% and a net margin of 2.01%. The business had revenue of $186.90 million for the quarter, compared to the consensus estimate of $193.77 million. During the same quarter in the prior year, the company earned $0.24 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, analysts predict that Consolidated Communications Holdings will post $0.70 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Wednesday, October 12th. Consolidated Communications Holdings’s payout ratio is currently 534.48%.
A number of large investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC acquired a new stake in Consolidated Communications Holdings during the second quarter worth approximately $270,000. Hanson McClain Inc. boosted its stake in Consolidated Communications Holdings by 0.3% in the second quarter. Hanson McClain Inc. now owns 12,279 shares of the company’s stock worth $334,000 after buying an additional 36 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Consolidated Communications Holdings by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 4,117 shares of the company’s stock worth $112,000 after buying an additional 39 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Consolidated Communications Holdings by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 270,946 shares of the company’s stock worth $7,381,000 after buying an additional 899 shares during the period. Finally, Arizona State Retirement System boosted its stake in Consolidated Communications Holdings by 1.5% in the second quarter. Arizona State Retirement System now owns 26,262 shares of the company’s stock worth $715,000 after buying an additional 400 shares during the period. Institutional investors own 62.08% of the company’s stock.
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.
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