Zacks: Brokerages Expect Consolidated Communications Holdings Inc (CNSL) to Post -$0.08 Earnings Per Share

Wall Street analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to report earnings per share (EPS) of ($0.08) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Consolidated Communications’ earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.05). Consolidated Communications reported earnings of ($0.10) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The business is scheduled to report its next earnings report on Thursday, August 1st.

On average, analysts expect that Consolidated Communications will report full-year earnings of ($0.21) per share for the current financial year, with EPS estimates ranging from ($0.30) to ($0.11). For the next fiscal year, analysts expect that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.36) to $0.12. Zacks’ EPS averages are an average based on a survey of analysts that cover Consolidated Communications.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.11. The company had revenue of $338.65 million during the quarter, compared to the consensus estimate of $338.29 million. Consolidated Communications had a negative net margin of 3.39% and a negative return on equity of 5.87%. Consolidated Communications’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) EPS.

A number of research firms have commented on CNSL. Zacks Investment Research upgraded shares of Consolidated Communications from a “sell” rating to a “hold” rating in a report on Monday, March 25th. ValuEngine downgraded shares of Consolidated Communications from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BidaskClub downgraded shares of Consolidated Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc grew its stake in shares of Consolidated Communications by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after buying an additional 44,238 shares during the period. Vanguard Group Inc. grew its stake in shares of Consolidated Communications by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after buying an additional 44,238 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Consolidated Communications by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,320,113 shares of the utilities provider’s stock valued at $42,683,000 after buying an additional 209,049 shares during the period. Principal Financial Group Inc. grew its stake in shares of Consolidated Communications by 11.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,060,966 shares of the utilities provider’s stock valued at $40,122,000 after buying an additional 417,662 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Consolidated Communications by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,504,120 shares of the utilities provider’s stock valued at $32,653,000 after buying an additional 137,218 shares during the period. 70.69% of the stock is owned by institutional investors and hedge funds.

CNSL stock opened at $4.97 on Tuesday. The stock has a market capitalization of $358.33 million, a price-to-earnings ratio of -11.83 and a beta of 0.83. The company has a debt-to-equity ratio of 6.14, a current ratio of 0.69 and a quick ratio of 0.69. Consolidated Communications has a 12 month low of $4.74 and a 12 month high of $14.23.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were paid a $0.3874 dividend. This is a boost from Consolidated Communications’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, April 12th. This represents a $1.55 annualized dividend and a dividend yield of 31.18%. Consolidated Communications’s dividend payout ratio is -369.05%.

About Consolidated Communications

Consolidated Communications Holdings, Inc provides business and broadband communications services. It provides integrated communication 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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