A number of other equities analysts also recently weighed in on the stock. ValuEngine raised shares of 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 for the company in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $5.92.
CNSL stock traded up $0.25 during mid-day trading on Wednesday, reaching $5.32. 1,957,095 shares of the stock traded hands, compared to its average volume of 1,264,466. The business has a 50-day moving average of $4.58 and a two-hundred day moving average of $6.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 6.43. The firm has a market capitalization of $335.15 million, a PE ratio of -12.67 and a beta of 1.16. Consolidated Communications has a 52 week low of $3.90 and a 52 week high of $14.23.
Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Consolidated Communications had a negative net margin of 3.19% and a negative return on equity of 5.29%. The firm had revenue of $333.53 million during the quarter, compared to analyst estimates of $333.65 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The company’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 -0.11 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new stake in shares of Consolidated Communications during the 2nd quarter worth about $38,000. Paradigm Financial Advisors LLC bought a new position in Consolidated Communications during the second quarter worth about $51,000. Public Employees Retirement System of Ohio increased its holdings in shares of Consolidated Communications by 42.6% during the second quarter. Public Employees Retirement System of Ohio now owns 12,528 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 3,744 shares during the period. Marshall Wace North America L.P. acquired a new stake in Consolidated Communications during the second quarter worth approximately $70,000. Finally, Magnus Financial Group LLC boosted its position in shares of Consolidated Communications by 42.1% during the 2nd quarter. Magnus Financial Group LLC now owns 16,431 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 4,864 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors and hedge funds.
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.
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