Consolidated Communications Holdings Inc. (CNSL) Receives New Coverage from Analysts at Cowen and Company
Investment analysts at Cowen and Company began coverage on shares of Consolidated Communications Holdings Inc. (NASDAQ:CNSL) in a research report issued on Monday, The Fly reports. The firm set a “market perform” rating on the stock.
CNSL has been the subject of several other reports. Zacks Investment Research lowered Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Citigroup Inc. raised their price target on Consolidated Communications Holdings from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Friday, August 5th. Drexel Hamilton set a $26.00 price target on Consolidated Communications Holdings and gave the stock a “hold” rating in a research report on Friday, August 5th. Jefferies Group restated a “hold” rating on shares of Consolidated Communications Holdings in a research report on Thursday, August 4th. Finally, Raymond James Financial Inc. lowered 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. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Consolidated Communications Holdings currently has a consensus rating of “Hold” and an average target price of $23.40.
Shares of Consolidated Communications Holdings (NASDAQ:CNSL) opened at 23.92 on Monday. Consolidated Communications Holdings has a 1-year low of $17.76 and a 1-year high of $28.78. The stock has a market cap of $1.21 billion, a P/E ratio of 80.54 and a beta of 1.09. The firm’s 50-day moving average price is $24.56 and its 200 day moving average price is $25.27.
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Consolidated Communications Holdings (NASDAQ:CNSL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Consolidated Communications Holdings had a return on equity of 13.91% and a net margin of 2.01%. The business earned $186.90 million during the quarter, compared to analyst estimates of $193.77 million. During the same period last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that Consolidated Communications Holdings will post $0.70 earnings per share for the current fiscal year.
The business also recently announced a dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be issued a $0.387 dividend. The ex-dividend date is Wednesday, October 12th. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 534.48%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNSL. Norges Bank bought a new position in Consolidated Communications Holdings during the fourth quarter worth about $10,162,000. BlackRock Fund Advisors raised its position in Consolidated Communications Holdings by 11.3% in the second quarter. BlackRock Fund Advisors now owns 4,430,297 shares of the company’s stock worth $120,681,000 after buying an additional 448,424 shares during the period. Vanguard Group Inc. raised its position in Consolidated Communications Holdings by 5.6% in the second quarter. Vanguard Group Inc. now owns 5,017,836 shares of the company’s stock worth $136,685,000 after buying an additional 263,981 shares during the period. Dimensional Fund Advisors LP raised its position in Consolidated Communications Holdings by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,935 shares of the company’s stock worth $37,563,000 after buying an additional 105,187 shares during the period. Finally, First Trust Advisors LP raised its position in Consolidated Communications Holdings by 35.7% in the second quarter. First Trust Advisors LP now owns 389,655 shares of the company’s stock worth $10,614,000 after buying an additional 102,445 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
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.
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