Consolidated Communications (CNSL) Upgraded to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a buy rating to a strong-buy rating in a report released on Friday morning.

Separately, Zacks Investment Research downgraded shares of Consolidated Communications from a hold rating to a sell rating in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Consolidated Communications has an average rating of Hold and an average price target of $14.50.

Consolidated Communications stock opened at $12.72 on Friday. Consolidated Communications has a one year low of $10.31 and a one year high of $19.62. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $907.76 million, a PE ratio of 48.92 and a beta of 0.70.

Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). Consolidated Communications had a negative return on equity of 3.15% and a net margin of 3.47%. The business had revenue of $350.22 million for the quarter, compared to analyst estimates of $351.29 million. On average, sell-side analysts expect that Consolidated Communications will post -0.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 15th will be paid a $0.387 dividend. The ex-dividend date is Friday, October 12th. This represents a $1.55 annualized dividend and a yield of 12.17%. Consolidated Communications’s dividend payout ratio (DPR) is currently 596.15%.

Large investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new stake in Consolidated Communications in the 2nd quarter valued at about $126,000. Macquarie Group Ltd. lifted its stake in Consolidated Communications by 85.5% in the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 4,700 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Consolidated Communications in the 1st quarter valued at about $119,000. S. Muoio & CO. LLC acquired a new stake in Consolidated Communications in the 2nd quarter valued at about $135,000. Finally, Profund Advisors LLC acquired a new stake in Consolidated Communications in the 1st quarter valued at about $122,000. Institutional investors and hedge funds own 71.58% of the company’s stock.

About Consolidated Communications

Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.

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