Consolidated Communications (NASDAQ:CNSL) Upgraded by BidaskClub to “Buy”

Consolidated Communications (NASDAQ:CNSL) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

A number of other research firms have also issued reports on CNSL. Zacks Investment Research upgraded shares of Consolidated Communications from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a report on Monday, July 1st. Guggenheim downgraded shares of Consolidated Communications from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Friday, April 26th. Raymond James downgraded shares of Consolidated Communications to a “market perform” rating in a research report on Thursday, April 25th. TheStreet downgraded shares of Consolidated Communications from a “c-” rating to a “d+” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Co raised shares of Consolidated Communications from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $11.25 to $8.00 in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $5.92.

Shares of CNSL stock traded up $0.37 during trading hours on Thursday, reaching $5.13. 1,309,542 shares of the stock traded hands, compared to its average volume of 1,021,180. Consolidated Communications has a 1-year low of $3.91 and a 1-year high of $14.23. The firm has a fifty day moving average of $4.92. 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 (NASDAQ:CNSL) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. Consolidated Communications had a negative net margin of 3.39% and a negative return on equity of 5.87%. The business had revenue of $333.53 million for the quarter, compared to analyst estimates of $333.65 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Sell-side analysts predict that Consolidated Communications will post -0.23 EPS for the current fiscal year.

In related news, CEO C Robert Udell, Jr. acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $4.34 per share, with a total value of $43,400.00. Following the completion of the transaction, the chief executive officer now owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CNSL. Legal & General Group Plc grew its position in Consolidated Communications by 1.0% in the fourth quarter. Legal & General Group Plc now owns 167,314 shares of the utilities provider’s stock worth $1,654,000 after acquiring an additional 1,586 shares in the last quarter. Comerica Bank grew its position in Consolidated Communications by 3.0% in the first quarter. Comerica Bank now owns 72,991 shares of the utilities provider’s stock worth $859,000 after acquiring an additional 2,155 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Consolidated Communications by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 251,764 shares of the utilities provider’s stock worth $2,747,000 after acquiring an additional 2,435 shares in the last quarter. American Research & Management Co. bought a new stake in Consolidated Communications in the first quarter worth approximately $33,000. Finally, SG Americas Securities LLC grew its position in Consolidated Communications by 5.8% in the first quarter. SG Americas Securities LLC now owns 59,516 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 3,261 shares in the last quarter. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.

See Also: Liquidity

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