Comerica Bank increased its position in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 56,126 shares of the company’s stock after buying an additional 2,884 shares during the period. Comerica Bank’s holdings in Consolidated Communications Holdings were worth $1,478,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Consolidated Communications Holdings during the third quarter worth about $245,000. Municipal Employees Retirement System of Michigan raised its position in shares of Consolidated Communications Holdings by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,240 shares of the company’s stock worth $284,000 after buying an additional 180 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Consolidated Communications Holdings by 51.0% in the third quarter. Nisa Investment Advisors LLC now owns 14,650 shares of the company’s stock worth $370,000 after buying an additional 4,950 shares in the last quarter. JNBA Financial Advisors acquired a new position in shares of Consolidated Communications Holdings during the fourth quarter worth $397,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in shares of Consolidated Communications Holdings during the third quarter worth $507,000. 63.05% of the stock is currently owned by institutional investors and hedge funds.
Consolidated Communications Holdings Inc (NASDAQ:CNSL) opened at 24.24 on Tuesday. The firm has a 50-day moving average price of $24.50 and a 200-day moving average price of $25.51. Consolidated Communications Holdings Inc has a 52 week low of $21.85 and a 52 week high of $30.23. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 84.76 and a beta of 1.27.
Consolidated Communications Holdings (NASDAQ:CNSL) last posted its earnings results on Thursday, February 23rd. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.06. Consolidated Communications Holdings had a return on equity of 14.50% and a net margin of 2.60%. The firm earned $175.92 million during the quarter, compared to the consensus estimate of $183.23 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Analysts anticipate that Consolidated Communications Holdings Inc will post $0.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 2nd. Stockholders of record on Saturday, April 15th will be issued a $0.3874 dividend. This represents a $1.55 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Tuesday, April 11th. Consolidated Communications Holdings’s payout ratio is 407.89%.
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A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a research note on Monday, January 9th. Jefferies Group LLC upped their target price on Consolidated Communications Holdings from $22.00 to $27.00 and gave the stock a “hold” rating in a research note on Tuesday, December 6th. Raymond James Financial, Inc. upgraded Consolidated Communications Holdings from an “underperform” rating to a “market perform” rating in a research note on Tuesday, December 6th. Finally, Drexel Hamilton lowered Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a research note on Monday, December 5th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.29.
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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