Consolidated Communications Holdings Inc. (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $28.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.81% from the company’s previous close.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
Other equities analysts also recently issued research reports about the company. Jefferies Group reissued a “hold” rating on shares of Consolidated Communications Holdings in a research report on Thursday, August 4th. Raymond James Financial Inc. downgraded Consolidated Communications Holdings from a “market perform” rating to an “underperform” rating in a research report on Friday, August 5th. They noted that the move was a valuation call. Drexel Hamilton set a $26.00 target price on Consolidated Communications Holdings and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Citigroup Inc. boosted their target price on Consolidated Communications Holdings from $17.00 to $19.00 and gave the company a “sell” rating in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.40.
Consolidated Communications Holdings (NASDAQ:CNSL) opened at 24.82 on Wednesday. Consolidated Communications Holdings has a 12 month low of $17.76 and a 12 month high of $28.78. The firm’s 50-day moving average price is $24.52 and its 200 day moving average price is $25.27. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 83.57 and a beta of 1.09.
Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $186.90 million for the quarter, compared to the consensus estimate of $193.77 million. Consolidated Communications Holdings had a return on equity of 13.91% and a net margin of 2.01%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, analysts anticipate that Consolidated Communications Holdings will post $0.70 earnings per share for the current year.
The firm also recently disclosed a dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 14th will be given a $0.387 dividend. The ex-dividend date is Wednesday, October 12th. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 534.48%.
In other Consolidated Communications Holdings news, CFO Steven L. Childers sold 10,000 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $28.20, for a total value of $282,000.00. Following the transaction, the chief financial officer now owns 85,410 shares of the company’s stock, valued at approximately $2,408,562. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Consolidated Communications Holdings by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,290,756 shares of the company’s stock valued at $33,250,000 after buying an additional 18,405 shares in the last quarter. Credit Agricole S A purchased a new stake in shares of Consolidated Communications Holdings during the first quarter valued at $407,000. BlackRock Group LTD boosted its stake in shares of Consolidated Communications Holdings by 6.0% in the first quarter. BlackRock Group LTD now owns 86,313 shares of the company’s stock valued at $2,223,000 after buying an additional 4,872 shares in the last quarter. Lyons Wealth Management LLC. purchased a new stake in shares of Consolidated Communications Holdings during the first quarter valued at $210,000. Finally, Prudential Financial Inc. boosted its stake in shares of Consolidated Communications Holdings by 3.2% in the first quarter. Prudential Financial Inc. now owns 121,039 shares of the company’s stock valued at $3,118,000 after buying an additional 3,700 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors.
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.
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