Zacks: Analysts Anticipate Consolidated Communications Holdings Inc (NASDAQ:CNSL) to Post -$0.05 Earnings Per Share

Analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to post earnings of ($0.05) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Consolidated Communications’ earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.02). Consolidated Communications reported earnings of ($0.09) per share during the same quarter last year, which indicates a positive year over year growth rate of 44.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Consolidated Communications will report full year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.26) to ($0.11). For the next financial year, analysts forecast that the firm will report earnings of ($0.06) per share, with EPS estimates ranging from ($0.23) to $0.12. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Consolidated Communications.

Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, August 1st. The utilities provider reported ($0.03) EPS for the quarter, topping the 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 business had revenue of $333.53 million during the quarter, compared to the consensus estimate of $333.65 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue was down 4.8% compared to the same quarter last year.

Several analysts have weighed in on CNSL shares. TheStreet cut Consolidated Communications from a “c-” rating to a “d+” rating in a report on Friday, April 26th. Guggenheim cut 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. ValuEngine raised Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Consolidated Communications from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a research note on Monday, July 1st. Finally, Raymond James cut Consolidated Communications to a “market perform” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $5.92.

In other Consolidated Communications news, CEO C Robert Udell, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $4.34 per share, for a total transaction of $43,400.00. Following the transaction, the chief executive officer now owns 333,844 shares in the company, valued at $1,448,882.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of CNSL. Advisor Group Inc. boosted its position in shares of Consolidated Communications by 164.3% during the fourth quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 5,603 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Consolidated Communications by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 798,187 shares of the utilities provider’s stock valued at $7,886,000 after purchasing an additional 113,703 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Consolidated Communications by 104.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,568 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 45,791 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Consolidated Communications by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,999 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 17,962 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Consolidated Communications during the fourth quarter valued at approximately $355,000. Hedge funds and other institutional investors own 74.17% of the company’s stock.

NASDAQ CNSL traded down $0.27 during trading hours on Wednesday, hitting $5.14. The company had a trading volume of 23,661 shares, compared to its average volume of 1,119,378. Consolidated Communications has a 52 week low of $3.91 and a 52 week high of $14.23. The company’s 50 day moving average is $4.98. 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 capitalization of $371.32 million, a price-to-earnings ratio of -12.20 and a beta of 1.15.

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.

Featured Story: The Role of a Fiduciary and Individual Investors

Get a free copy of the Zacks research report on Consolidated Communications (CNSL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.