Consolidated Communications Holdings Given Neutral Rating at DA Davidson (CNSL)
Consolidated Communications Holdings (NASDAQ:CNSL)‘s stock had its “neutral” rating restated by research analysts at DA Davidson in a report released on Wednesday. They currently have a $20.00 target price on the stock, up from their previous target price of $19.00. DA Davidson’s price target points to a potential downside of 10.19% from the company’s current price.
The analysts wrote, “On June 30th, CNSL announced the acquisition of Enventis (ENVE-$15.90) for ~$350 million. Each ENVE share will convert into 0.7402 shares of CNSL with cash paid in lieu of fractional shares. CNSL is paying 7.3x ENVE 2013 EBITDA, or 5.6x expected post-synergy EBITDA. The acquisition is expected to close by year-end 2014 after DOJ, FCC and state regulatory approval.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Consolidated Communications Holdings from $22.00 to $24.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet upgraded shares of Consolidated Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. Finally, analysts at Davidson raised their price target on shares of Consolidated Communications Holdings from $18.00 to $19.00 in a research note on Friday, May 2nd. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.78.
Shares of Consolidated Communications Holdings (NASDAQ:CNSL) opened at 22.27 on Wednesday. Consolidated Communications Holdings has a one year low of $16.51 and a one year high of $22.50. The stock’s 50-day moving average is $20.66 and its 200-day moving average is $19.82. The company has a market cap of $897.2 million and a price-to-earnings ratio of 27.77.
Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings data on Thursday, May 1st. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.04. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $149.02 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that Consolidated Communications Holdings will post $0.89 EPS for the current fiscal year.
Consolidated Communications Holdings, Inc (NASDAQ:CNSL) is a rural local exchange carrier (RLEC) offering a range of telecommunications services to residential and business customers in Illinois, Texas and Pennsylvania.
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