Insider Selling: Consolidated Communications Holdings CEO Sells 25,000 Shares of Stock (CNSL)
Consolidated Communications Holdings (NASDAQ:CNSL) CEO Robert J. Currey sold 25,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.57, for a total transaction of $589,250.00. Following the sale, the chief executive officer now directly owns 51,835 shares in the company, valued at approximately $1,221,751. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Consolidated Communications Holdings from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $24.30 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Consolidated Communications Holdings in a research note on Friday, August 1st. They now have a $23.00 price target on the stock, up previously from $21.00. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Consolidated Communications Holdings in a research note on Wednesday, July 30th. They now have a $17.00 price target on the stock, up previously from $15.00. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Consolidated Communications Holdings has a consensus rating of “Hold” and a consensus target price of $21.22.
Shares of Consolidated Communications Holdings (NASDAQ:CNSL) traded up 0.60% on Thursday, hitting $23.8315. The stock had a trading volume of 274,688 shares. Consolidated Communications Holdings has a 1-year low of $16.51 and a 1-year high of $23.90. The stock has a 50-day moving average of $22.22 and a 200-day moving average of $20.38. The company has a market cap of $960.1 million and a price-to-earnings ratio of 29.07.
Consolidated Communications Holdings (NASDAQ:CNSL) last announced its earnings results on Thursday, July 31st. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.02. The company had revenue of $151.00 million for the quarter, compared to the consensus estimate of $150.82 million. During the same quarter last year, the company posted $0.27 earnings per share. Consolidated Communications Holdings’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Consolidated Communications Holdings will post $0.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, November 1st. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.3874 per share. This represents a $1.55 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Friday, October 10th.
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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