Consolidated Communications Holdings, Inc. (CNSL) Sets New 52-Week Low at $17.23

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) reached a new 52-week low during trading on Monday . The stock traded as low as $17.23 and last traded at $17.26, with a volume of 348,509 shares trading hands. The stock had previously closed at $17.88.

Several equities research analysts have commented on CNSL shares. Zacks Investment Research lowered shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. Citigroup Inc. upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a research note on Wednesday, June 7th. UBS AG upgraded shares of Consolidated Communications Holdings to a “strong-buy” rating in a research note on Friday, June 9th. Raymond James Financial, Inc. upgraded shares of Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Friday, June 9th. Finally, BidaskClub upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $25.60.

The stock has a market capitalization of $1.24 billion, a PE ratio of 5846.67 and a beta of 0.91. The company’s 50 day moving average is $18.69 and its 200-day moving average is $21.01.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $169.95 million for the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a net margin of 0.09% and a return on equity of 15.30%. The business’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Equities research analysts forecast that Consolidated Communications Holdings, Inc. will post $0.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Sunday, October 15th will be paid a $0.3874 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.55 annualized dividend and a dividend yield of 8.83%. Consolidated Communications Holdings’s dividend payout ratio is presently 15,500.00%.

In related news, Director Richard Anthony Lumpkin acquired 5,300 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $19.17 per share, for a total transaction of $101,601.00. Following the completion of the transaction, the director now directly owns 12,667 shares in the company, valued at $242,826.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Currey acquired 3,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $17.50 per share, for a total transaction of $52,500.00. Following the transaction, the director now owns 45,995 shares of the company’s stock, valued at $804,912.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 23,688 shares of company stock worth $443,374. Insiders own 3.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in Consolidated Communications Holdings during the first quarter valued at approximately $100,000. SG Americas Securities LLC bought a new position in Consolidated Communications Holdings during the second quarter valued at approximately $127,000. QS Investors LLC lifted its position in Consolidated Communications Holdings by 17,467.6% during the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 6,463 shares during the period. Advisor Group Inc. lifted its position in Consolidated Communications Holdings by 28.7% during the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,846 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Consolidated Communications Holdings by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 10,020 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 4,430 shares during the period. Institutional investors own 67.72% of the company’s stock.

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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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