BidaskClub Lowers Consolidated Communications (CNSL) to Strong Sell

BidaskClub downgraded shares of Consolidated Communications (NASDAQ:CNSL) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.

Several other equities research analysts also recently weighed in on CNSL. Cowen reissued a hold rating and issued a $14.00 target price on shares of Consolidated Communications in a research report on Friday, March 2nd. Guggenheim began coverage on shares of Consolidated Communications in a research report on Tuesday, March 13th. They issued a neutral rating and a $11.00 target price for the company. TheStreet raised shares of Consolidated Communications from a d+ rating to a c rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Consolidated Communications from a sell rating to a hold rating in a research report on Monday, March 5th. Finally, ValuEngine downgraded shares of Consolidated Communications from a hold rating to a sell rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $17.50.

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Shares of CNSL stock opened at $10.98 on Wednesday. The firm has a market cap of $792.71, a PE ratio of 12.48, a PEG ratio of 100.90 and a beta of 0.74. Consolidated Communications has a 1 year low of $10.83 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 released its earnings results 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 company had revenue of $356.40 million during 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%. Consolidated Communications’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. equities research analysts forecast that Consolidated Communications will post 0.06 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Sunday, April 15th will be issued a $0.3874 dividend. The ex-dividend date is Thursday, April 12th. This is a positive change from Consolidated Communications’s previous quarterly dividend of $0.39. This represents a $1.55 annualized dividend and a dividend yield of 14.11%. Consolidated Communications’s payout ratio is 176.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of CNSL. Goldentree Asset Management LP acquired a new position in shares of Consolidated Communications in the 4th quarter valued at about $11,537,000. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Communications by 619,367.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock valued at $17,758,000 after buying an additional 910,470 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Consolidated Communications by 56.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,289,101 shares of the utilities provider’s stock valued at $27,903,000 after buying an additional 825,776 shares during the period. Private Management Group Inc. boosted its holdings in shares of Consolidated Communications by 62.1% in the 4th quarter. Private Management Group Inc. now owns 2,135,922 shares of the utilities provider’s stock valued at $26,037,000 after buying an additional 818,559 shares during the period. Finally, Sirios Capital Management L P boosted its holdings in shares of Consolidated Communications by 263.4% in the 4th quarter. Sirios Capital Management L P now owns 1,007,859 shares of the utilities provider’s stock valued at $12,286,000 after buying an additional 730,515 shares during the period. 74.58% of the stock is owned by institutional investors and hedge funds.

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About Consolidated Communications

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.

Analyst Recommendations for Consolidated Communications (NASDAQ:CNSL)

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