Zacks: Brokerages Anticipate Consolidated Communications Holdings Inc (CNSL) Will Post Earnings of -$0.02 Per Share

Equities analysts forecast that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will post earnings per share of $0.02 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Consolidated Communications’ earnings. The highest EPS estimate is $0.07 and the lowest is ($0.11). Consolidated Communications posted earnings of $0.11 per share in the same quarter last year, which would suggest a negative year over year growth rate of 81.8%. The business is expected to issue its next earnings results before the market opens on Thursday, March 1st.

According to Zacks, analysts expect that Consolidated Communications will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.35. For the next fiscal year, analysts forecast that the firm will post earnings of $0.31 per share, with EPS estimates ranging from $0.09 to $0.58. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Consolidated Communications.

CNSL has been the subject of several recent analyst reports. Drexel Hamilton upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. Jefferies Group reduced their price target on shares of 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 shares of Consolidated Communications from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, ValuEngine cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Consolidated Communications currently has an average rating of “Buy” and a consensus price target of $22.00.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Consolidated Communications by 4.1% during the fourth quarter. BlackRock Inc. now owns 9,636,982 shares of the utilities provider’s stock worth $117,474,000 after purchasing an additional 376,623 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Consolidated Communications by 0.9% in the second quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock worth $121,425,000 after acquiring an additional 48,111 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Consolidated Communications by 37.6% in the third 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. Bank of New York Mellon Corp lifted its holdings in Consolidated Communications by 56.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,289,101 shares of the utilities provider’s stock worth $27,903,000 after acquiring an additional 825,776 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in Consolidated Communications by 62.1% in the fourth quarter. Private Management Group Inc. now owns 2,135,922 shares of the utilities provider’s stock worth $26,037,000 after acquiring an additional 818,559 shares during the last quarter. 71.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of Consolidated Communications (NASDAQ CNSL) traded up $0.34 during trading on Tuesday, hitting $11.41. The stock had a trading volume of 946,800 shares, compared to its average volume of 1,029,380. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.61. The firm has a market capitalization of $784.16, a P/E ratio of -21.13, a PEG ratio of 21.89 and a beta of 0.69. Consolidated Communications has a 12 month low of $10.83 and a 12 month high of $26.79.

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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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