Consolidated Communications Holdings Inc (CNSL) Position Boosted by State Street Corp

State Street Corp raised its position in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133,084 shares of the company’s stock after buying an additional 91,696 shares during the period. State Street Corp’s holdings in Consolidated Communications Holdings were worth $30,426,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Comerica Bank raised its position in shares of Consolidated Communications Holdings by 5.4% in the fourth quarter. Comerica Bank now owns 56,126 shares of the company’s stock worth $1,478,000 after buying an additional 2,884 shares during the period. JNBA Financial Advisors acquired a new position in shares of Consolidated Communications Holdings during the fourth quarter worth about $397,000. Martin & Co. Inc. TN raised its position in shares of Consolidated Communications Holdings by 3.5% in the third quarter. Martin & Co. Inc. TN now owns 47,603 shares of the company’s stock worth $1,202,000 after buying an additional 1,625 shares during the period. HBK Sorce Advisory LLC raised its position in shares of Consolidated Communications Holdings by 1.0% in the third quarter. HBK Sorce Advisory LLC now owns 20,910 shares of the company’s stock worth $528,000 after buying an additional 200 shares during the period. Finally, Piermont Capital Management Inc. acquired a new position in shares of Consolidated Communications Holdings during the third quarter worth about $1,281,000. 63.05% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

Consolidated Communications Holdings Inc (NASDAQ:CNSL) opened at 23.24 on Monday. Consolidated Communications Holdings Inc has a 52 week low of $21.85 and a 52 week high of $30.23. The firm’s 50-day moving average price is $24.11 and its 200-day moving average price is $25.47. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 81.26 and a beta of 1.27.

Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings results on Thursday, February 23rd. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.06. Consolidated Communications Holdings had a net margin of 2.60% and a return on equity of 14.50%. The company earned $175.92 million during the quarter, compared to the consensus estimate of $183.23 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities analysts expect that Consolidated Communications Holdings Inc will post $0.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 2nd. Investors of record on Saturday, April 15th will be paid a $0.3874 dividend. This represents a $1.55 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Tuesday, April 11th. Consolidated Communications Holdings’s payout ratio is presently 407.89%.

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A number of equities analysts recently issued reports on the company. Raymond James Financial, Inc. raised Consolidated Communications Holdings from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Friday, March 10th. Zacks Investment Research lowered Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, March 1st. Jefferies Group LLC decreased their price objective on Consolidated Communications Holdings from $27.00 to $24.00 and set a “hold” rating for the company in a report on Friday, February 24th. Finally, Drexel Hamilton lowered Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, December 5th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $24.29.

About Consolidated Communications Holdings

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.

5 Day Chart for NASDAQ:CNSL

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