Consolidated Communications (NASDAQ:CNSL) Cut to Hold at BidaskClub

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BidaskClub cut shares of Consolidated Communications (NASDAQ:CNSL) from a buy rating to a hold rating in a research report report published on Wednesday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Consolidated Communications from a hold rating to a strong-buy rating and set a $5.75 price objective for the company in a research report on Monday, July 1st. ValuEngine upgraded 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, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $5.92.

NASDAQ:CNSL opened at $4.30 on Wednesday. The business has a 50 day moving average of $4.54 and a 200 day moving average of $6.25. The company has a market capitalization of $309.94 million, a price-to-earnings ratio of -10.24 and a beta of 1.16. Consolidated Communications has a 1-year low of $3.90 and a 1-year high of $14.23. The company has a debt-to-equity ratio of 6.43, a current ratio of 0.76 and a quick ratio of 0.76.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.05) earnings per share 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 firm had revenue of $333.53 million during the quarter, compared to the consensus estimate of $333.65 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Consolidated Communications will post -0.11 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc bought a new stake in Consolidated Communications in the second quarter valued at approximately $38,000. Paradigm Financial Advisors LLC bought a new position in shares of Consolidated Communications during the second quarter valued at approximately $51,000. Magnus Financial Group LLC bought a new position in shares of Consolidated Communications during the first quarter valued at approximately $126,000. Everence Capital Management Inc. bought a new position in shares of Consolidated Communications during the first quarter valued at approximately $134,000. Finally, Public Employees Retirement System of Ohio raised 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 valued at $62,000 after acquiring an additional 3,744 shares in the last quarter. Hedge funds and other institutional investors own 78.82% of the company’s stock.

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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