Analysts Anticipate Consolidated Communications Holdings, Inc. (CNSL) Will Post Quarterly Sales of $362.75 Million
Equities research analysts expect Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) to announce $362.75 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Consolidated Communications Holdings’ earnings, with the highest sales estimate coming in at $368.60 million and the lowest estimate coming in at $353.90 million. Consolidated Communications Holdings reported sales of $191.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 89.4%. The company is scheduled to announce its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Consolidated Communications Holdings will report full year sales of $362.75 million for the current financial year, with estimates ranging from $1.05 billion to $1.07 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.44 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Consolidated Communications Holdings.
Consolidated Communications Holdings (NASDAQ:CNSL) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. Consolidated Communications Holdings’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. UBS AG raised Consolidated Communications Holdings to a “strong-buy” rating in a research report on Friday, June 9th. Cowen and Company reissued a “hold” rating and set a $22.00 price target on shares of Consolidated Communications Holdings in a research report on Friday, July 28th. Finally, ValuEngine downgraded Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.60.
In other Consolidated Communications Holdings news, Director Richard Anthony Lumpkin bought 5,300 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $19.17 per share, for a total transaction of $101,601.00. Following the completion of the purchase, the director now directly owns 12,667 shares of the company’s stock, valued at $242,826.39. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Wayne Wilson bought 3,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $17.45 per share, with a total value of $52,350.00. Following the completion of the purchase, the director now directly owns 50,211 shares of the company’s stock, valued at $876,181.95. The disclosure for this purchase can be found here. Insiders have acquired 26,688 shares of company stock valued at $495,724 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new stake in Consolidated Communications Holdings during the first quarter worth $100,000. SG Americas Securities LLC bought a new stake in Consolidated Communications Holdings during the second quarter worth $127,000. QS Investors LLC lifted its stake in Consolidated Communications Holdings by 17,467.6% during the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 6,463 shares during the last quarter. Advisor Group Inc. lifted its stake in Consolidated Communications Holdings by 28.7% during the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 1,846 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Consolidated Communications Holdings by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 10,020 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 4,430 shares during the last quarter. Hedge funds and other institutional investors own 67.72% of the company’s stock.
Consolidated Communications Holdings (CNSL) opened at 18.97 on Friday. The company’s 50 day moving average price is $18.65 and its 200 day moving average price is $20.80. The company has a market cap of $1.34 billion, a P/E ratio of 6323.33 and a beta of 0.91. Consolidated Communications Holdings has a 52-week low of $17.21 and a 52-week high of $30.23.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be paid a dividend of $0.3874 per share. This represents a $1.55 annualized dividend and a yield of 8.17%. The ex-dividend date of this dividend is Thursday, October 12th. Consolidated Communications Holdings’s payout ratio is presently 15,500.00%.
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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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