Consolidated Communications Holdings Inc (CNSL) Expected to Announce Quarterly Sales of $360.06 Million

Equities research analysts expect that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will post sales of $360.06 million for the current quarter, according to Zacks. Three analysts have provided estimates for Consolidated Communications’ earnings. The highest sales estimate is $361.20 million and the lowest is $358.80 million. Consolidated Communications posted sales of $175.92 million during the same quarter last year, which suggests a positive year over year growth rate of 104.7%. The company is scheduled to report its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Consolidated Communications will report full-year sales of $360.06 million for the current year. For the next year, analysts anticipate that the firm will report sales of $1.41 billion per share, with estimates ranging from $1.40 billion to $1.41 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Consolidated Communications.

CNSL has been the topic of several recent analyst reports. Drexel Hamilton raised Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. They noted that the move was a valuation call. Jefferies Group lowered their price target on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Cowen reaffirmed a “hold” rating and set a $21.00 price target on shares of Consolidated Communications in a research report on Thursday, October 19th. Zacks Investment Research raised Consolidated Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.00.

Consolidated Communications (CNSL) opened at $12.85 on Monday. The firm has a market capitalization of $910.24, a P/E ratio of -23.80, a price-to-earnings-growth ratio of 22.19 and a beta of 0.74. Consolidated Communications has a 1 year low of $12.03 and a 1 year high of $26.79. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88.

In other Consolidated Communications news, Director Thomas A. Gerke bought 6,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average cost of $14.63 per share, with a total value of $100,215.50. Following the acquisition, the director now owns 12,667 shares of the company’s stock, valued at $185,318.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Currey bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $13.43 per share, for a total transaction of $67,150.00. Following the completion of the acquisition, the director now directly owns 45,995 shares in the company, valued at approximately $617,712.85. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,550 shares of company stock worth $247,203 over the last three months. 3.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CNSL. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Communications by 619,367.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock worth $17,758,000 after acquiring an additional 910,470 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Consolidated Communications by 37.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,643,331 shares of the utilities provider’s stock worth $50,436,000 after acquiring an additional 721,763 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Consolidated Communications by 558.9% in the 3rd quarter. Wells Fargo & Company MN now owns 758,557 shares of the utilities provider’s stock valued at $14,473,000 after purchasing an additional 643,433 shares during the period. Royal Bank of Canada boosted its stake in Consolidated Communications by 11.1% in the 2nd quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock valued at $129,462,000 after purchasing an additional 601,410 shares during the period. Finally, Sirios Capital Management L P bought a new stake in Consolidated Communications in the 3rd quarter valued at $5,292,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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Consolidated Communications 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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