Brokerages Set Consolidated Communications Holdings Inc (NASDAQ:CNSL) Target Price at $5.92

Consolidated Communications Holdings Inc (NASDAQ:CNSL) has received an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. 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 on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.92.

A number of equities research analysts recently issued reports on the company. TheStreet lowered Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, April 26th. Wells Fargo & Co raised Consolidated Communications from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $11.25 to $8.00 in a research note on Friday, April 26th. ValuEngine raised Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub raised Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Guggenheim lowered Consolidated Communications from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Friday, April 26th.

In other news, CEO C Robert Udell, Jr. acquired 10,000 shares of Consolidated Communications stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $43,400.00. Following the acquisition, the chief executive officer now directly owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Research & Management Co. purchased a new position in Consolidated Communications during the 1st quarter worth $33,000. Macquarie Group Ltd. purchased a new position in Consolidated Communications during the 4th quarter worth $87,000. Advisor Group Inc. increased its holdings in Consolidated Communications by 164.3% during the 4th quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 5,603 shares during the period. Magnus Financial Group LLC purchased a new position in Consolidated Communications during the 1st quarter worth $126,000. Finally, Raymond James Trust N.A. purchased a new position in Consolidated Communications during the 1st quarter worth $129,000. Institutional investors own 74.17% of the company’s stock.

Shares of CNSL stock opened at $5.41 on Friday. Consolidated Communications has a 52-week low of $3.91 and a 52-week high of $14.23. The company has a debt-to-equity ratio of 6.43, a current ratio of 0.76 and a quick ratio of 0.69. The company has a market cap of $390.06 million, a price-to-earnings ratio of -12.88 and a beta of 1.15. The business’s 50 day simple moving average is $4.98.

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

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.

Further Reading: How to Track your Portfolio in Google Finance

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.