Consolidated Communications (NASDAQ:CNSL) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a sell rating to a hold rating in a research report released on Thursday, ValuEngine reports.

A number of other analysts have also commented on CNSL. TheStreet lowered shares of Consolidated Communications from a c- rating to a d+ rating in a research note on Friday, April 26th. Raymond James lowered shares of Consolidated Communications to a market perform rating in a research note on Thursday, April 25th. BidaskClub upgraded shares of Consolidated Communications from a hold rating to a buy rating in a research note on Thursday. Wells Fargo & Co upgraded shares of Consolidated Communications from a market perform rating to an outperform rating and decreased their price target for the company from $11.25 to $8.00 in a research note on Friday, April 26th. Finally, Guggenheim lowered shares of Consolidated Communications from a neutral rating to a sell rating and decreased their price target for the company from $8.00 to $4.00 in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Consolidated Communications currently has a consensus rating of Buy and an average price target of $5.92.

Shares of NASDAQ:CNSL traded up $0.06 during mid-day trading on Thursday, hitting $5.19. The company had a trading volume of 32,211 shares, compared to its average volume of 1,109,844. The company has a fifty day moving average of $4.92. The firm has a market capitalization of $373.12 million, a P/E ratio of -12.32 and a beta of 1.15. The company has a debt-to-equity ratio of 6.43, a current ratio of 0.76 and a quick ratio of 0.69. Consolidated Communications has a one year low of $3.91 and a one year high of $14.23.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $333.53 million during the quarter, compared to analyst estimates of $333.65 million. Consolidated Communications had a negative net margin of 3.19% and a negative return on equity of 5.29%. Consolidated Communications’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, equities research analysts predict that Consolidated Communications will post -0.23 earnings per share for the current year.

In other news, CEO C Robert Udell, Jr. bought 10,000 shares of Consolidated Communications stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $43,400.00. Following the purchase, the chief executive officer now directly owns 333,844 shares in the company, valued at approximately $1,448,882.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Research & Management Co. purchased a new stake in Consolidated Communications during the first quarter valued at about $33,000. Macquarie Group Ltd. purchased a new stake in shares of Consolidated Communications in the fourth quarter worth about $87,000. Advisor Group Inc. lifted its holdings in shares of Consolidated Communications by 164.3% in the fourth quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock worth $89,000 after buying an additional 5,603 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in shares of Consolidated Communications in the first quarter worth about $126,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Consolidated Communications in the first quarter worth about $129,000. Hedge funds and other institutional investors own 74.17% of the company’s stock.

About Consolidated Communications

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.

Further Reading: What does relative strength index mean?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Consolidated Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications and related companies with MarketBeat.com's FREE daily email newsletter.