Consolidated Communications Holdings, Inc. (CNSL) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) from a hold rating to a buy rating in a research note released on Tuesday, August 8th.

Several other analysts have also commented on CNSL. Zacks Investment Research raised Consolidated Communications Holdings from a sell rating to a hold rating in a report on Wednesday, April 26th. Citigroup Inc. raised Consolidated Communications Holdings from a sell rating to a neutral rating in a report on Wednesday, June 7th. UBS AG raised Consolidated Communications Holdings to a strong-buy rating in a report on Friday, June 9th. Raymond James Financial, Inc. raised Consolidated Communications Holdings from an outperform rating to a strong-buy rating and set a $26.00 price objective on the stock in a report on Friday, June 9th. Finally, ValuEngine raised Consolidated Communications Holdings from a sell rating to a hold rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Consolidated Communications Holdings currently has a consensus rating of Hold and a consensus price target of $25.60.

Shares of Consolidated Communications Holdings (CNSL) opened at 18.68 on Tuesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 6226.67 and a beta of 0.91. Consolidated Communications Holdings has a one year low of $17.41 and a one year high of $30.23. The company’s 50 day moving average is $19.11 and its 200 day moving average is $21.85.

Consolidated Communications Holdings (NASDAQ:CNSL) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $169.95 million for the quarter, compared to analyst estimates of $169.69 million. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. Consolidated Communications Holdings’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. Equities research analysts predict that Consolidated Communications Holdings will post $0.55 earnings per share for the current year.

WARNING: This piece was originally posted by BNB Daily and is owned by of BNB Daily. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://www.baseball-news-blog.com/2017/08/19/consolidated-communications-holdings-inc-cnsl-rating-increased-to-buy-at-bidaskclub-updated.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be issued a $0.3874 dividend. This represents a $1.55 annualized dividend and a yield of 8.30%. The ex-dividend date is Thursday, October 12th. Consolidated Communications Holdings’s payout ratio is currently 15,500.00%.

In other news, Director Timothy D. Taron bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the transaction, the director now directly owns 3,159 shares in the company, valued at approximately $60,336.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert J. Currey bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $19.33 per share, for a total transaction of $96,650.00. Following the transaction, the director now owns 48,495 shares of the company’s stock, valued at $937,408.35. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 14,800 shares of company stock worth $283,701. Company insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. ING Groep NV purchased a new stake in shares of Consolidated Communications Holdings during the first quarter worth $3,263,000. Great West Life Assurance Co. Can boosted its stake in shares of Consolidated Communications Holdings by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 71,024 shares of the utilities provider’s stock worth $1,663,000 after buying an additional 5,346 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its stake in shares of Consolidated Communications Holdings by 50.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 44,200 shares of the utilities provider’s stock worth $1,035,000 after buying an additional 14,900 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Consolidated Communications Holdings by 3.9% in the first quarter. Wells Fargo & Company MN now owns 108,905 shares of the utilities provider’s stock worth $2,550,000 after buying an additional 4,132 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Consolidated Communications Holdings by 2.8% in the first quarter. North Star Investment Management Corp. now owns 104,021 shares of the utilities provider’s stock worth $2,436,000 after buying an additional 2,790 shares during the last quarter. Hedge funds and other institutional investors own 67.72% of the company’s stock.

Consolidated Communications Holdings Company Profile

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

Analyst Recommendations for Consolidated Communications Holdings (NASDAQ:CNSL)

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

Latest News

Leave a Reply