Consolidated Communications (CNSL) Announces Earnings Results

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Consolidated Communications (NASDAQ:CNSL) announced its quarterly earnings data on Thursday. The utilities provider reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.11, MarketWatch Earnings reports. The firm had revenue of $338.65 million for the quarter, compared to analyst estimates of $338.29 million. Consolidated Communications had a negative return on equity of 5.80% and a negative net margin of 3.63%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned ($0.07) EPS.

Shares of NASDAQ:CNSL traded down $3.04 during midday trading on Thursday, hitting $5.85. The company had a trading volume of 16,290,013 shares, compared to its average volume of 1,225,611. Consolidated Communications has a 12 month low of $8.51 and a 12 month high of $14.23. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.54. The firm has a market capitalization of $642.20 million, a P/E ratio of -13.93 and a beta of 1.09.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.3874 dividend. This is a positive change from Consolidated Communications’s previous quarterly dividend of $0.39. This represents a $1.55 annualized dividend and a dividend yield of 26.49%. The ex-dividend date of this dividend is Friday, April 12th. Consolidated Communications’s dividend payout ratio (DPR) is currently -369.05%.

A number of research analysts have commented on the company. BidaskClub upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Raymond James lowered Consolidated Communications to a “market perform” rating in a research report on Thursday. Zacks Investment Research upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, ValuEngine upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.63.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Consolidated Communications by 8.0% in the 3rd quarter. BlackRock Inc. now owns 11,029,285 shares of the utilities provider’s stock worth $143,823,000 after purchasing an additional 813,801 shares during the last quarter. Vanguard Group Inc raised its stake in Consolidated Communications by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 7,641,474 shares of the utilities provider’s stock worth $99,645,000 after buying an additional 44,238 shares during the period. Vanguard Group Inc. raised its stake in Consolidated Communications by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,641,474 shares of the utilities provider’s stock worth $99,645,000 after buying an additional 44,238 shares during the period. Dimensional Fund Advisors LP raised its stake in Consolidated Communications by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,320,113 shares of the utilities provider’s stock worth $42,683,000 after buying an additional 209,049 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Consolidated Communications by 11.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,060,966 shares of the utilities provider’s stock worth $40,122,000 after buying an additional 417,662 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.

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About Consolidated Communications

Consolidated Communications Holdings, Inc provides business and broadband communications services. It provides integrated communication services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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Earnings History for Consolidated Communications (NASDAQ:CNSL)

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