Consolidated Communications (NASDAQ:CNSL) Upgraded by BidaskClub to “Buy”

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BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

CNSL has been the subject of a number of other research reports. Zacks Investment Research raised shares of Consolidated Communications from a hold rating to a strong-buy rating and set a $5.75 target price for the company in a research report on Monday, July 1st. ValuEngine raised shares of Consolidated Communications from a sell rating to a hold rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Consolidated Communications presently has an average rating of Buy and an average target price of $5.92.

Shares of Consolidated Communications stock traded down $0.66 on Thursday, hitting $4.70. The stock had a trading volume of 793,396 shares, compared to its average volume of 1,265,281. The stock has a 50 day moving average of $4.58 and a 200 day moving average of $6.48. Consolidated Communications has a twelve month low of $3.90 and a twelve month high of $14.23. The company has a debt-to-equity ratio of 6.43, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $381.30 million, a P/E ratio of -11.19 and a beta of 1.16.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Consolidated Communications had a negative return on equity of 5.29% and a negative net margin of 3.19%. The company had revenue of $333.53 million during the quarter, compared to the consensus estimate of $333.65 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Equities analysts expect that Consolidated Communications will post -0.11 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in CNSL. Dimensional Fund Advisors LP boosted its holdings in shares of 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 in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Consolidated Communications by 406.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,551 shares of the utilities provider’s stock worth $181,000 after buying an additional 13,284 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Consolidated Communications by 5.8% during the 1st quarter. SG Americas Securities LLC now owns 59,516 shares of the utilities provider’s stock worth $649,000 after buying an additional 3,261 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Consolidated Communications by 1.7% during the 1st quarter. Rhumbline Advisers now owns 210,523 shares of the utilities provider’s stock worth $2,297,000 after buying an additional 3,434 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Consolidated Communications by 357.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 199,946 shares of the utilities provider’s stock worth $2,182,000 after buying an additional 156,230 shares in the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Fundamental Analysis

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