Consolidated Communications Holdings Inc (CNSL) Expected to Announce Quarterly Sales of $354.47 Million

Equities research analysts predict that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will announce $354.47 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Consolidated Communications’ earnings. The highest sales estimate is $355.20 million and the lowest is $354.10 million. Consolidated Communications posted sales of $169.94 million in the same quarter last year, which suggests a positive year-over-year growth rate of 108.6%. The business is expected to report its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that Consolidated Communications will report full year sales of $354.47 million for the current fiscal year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Consolidated Communications.

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Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, March 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The firm had revenue of $356.40 million during the quarter, compared to analyst estimates of $356.72 million. Consolidated Communications had a net margin of 6.13% and a return on equity of 2.83%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS.

Several equities analysts have commented on the company. Zacks Investment Research raised Consolidated Communications from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. ValuEngine cut Consolidated Communications from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Drexel Hamilton raised Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. They noted that the move was a valuation call. BidaskClub raised Consolidated Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 28th. Finally, Guggenheim assumed coverage on Consolidated Communications in a report on Tuesday, March 13th. They issued a “neutral” rating and a $11.00 price target for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Consolidated Communications has an average rating of “Hold” and an average price target of $17.50.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Consolidated Communications by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,463,325 shares of the utilities provider’s stock worth $27,919,000 after buying an additional 210,612 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of Consolidated Communications by 41.2% in the 4th quarter. North Star Investment Management Corp. now owns 457,302 shares of the utilities provider’s stock worth $5,575,000 after buying an additional 133,493 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Consolidated Communications in the 3rd quarter worth approximately $751,000. JPMorgan Chase & Co. raised 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 worth $17,758,000 after buying an additional 910,470 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Consolidated Communications by 38.6% in the 3rd quarter. Prudential Financial Inc. now owns 118,274 shares of the utilities provider’s stock worth $2,257,000 after buying an additional 32,955 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.

CNSL stock traded down $0.22 during trading on Wednesday, reaching $10.98. The company’s stock had a trading volume of 935,233 shares, compared to its average volume of 1,258,509. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $792.71, a PE ratio of 12.48, a price-to-earnings-growth ratio of 100.90 and a beta of 0.74. Consolidated Communications has a 12-month low of $10.83 and a 12-month high of $24.80.

The business also recently announced 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 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 14.11%. Consolidated Communications’s dividend payout ratio is presently 176.14%.

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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.

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