Equities analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to post sales of $340.50 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Consolidated Communications’ earnings, with the lowest sales estimate coming in at $339.50 million and the highest estimate coming in at $341.50 million. Consolidated Communications reported sales of $356.36 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.5%. The firm is scheduled to report its next earnings report on Thursday, March 7th.
On average, analysts expect that Consolidated Communications will report full year sales of $1.39 billion for the current year, with estimates ranging from $1.39 billion to $1.40 billion. For the next year, analysts expect that the company will post sales of $1.34 billion, with estimates ranging from $1.34 billion to $1.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Consolidated Communications.
Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, November 1st. The utilities provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. The company had revenue of $348.06 million during the quarter, compared to analysts’ expectations of $345.10 million. Consolidated Communications had a net margin of 4.46% and a negative return on equity of 4.56%. The firm’s revenue was down 4.2% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. BidaskClub upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Friday, October 5th. Finally, ValuEngine upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.67.
A number of hedge funds have recently added to or reduced their stakes in CNSL. BlackRock Inc. increased its position in Consolidated Communications by 8.0% in the 3rd quarter. BlackRock Inc. now owns 11,029,285 shares of the utilities provider’s stock valued at $143,823,000 after acquiring an additional 813,801 shares during the period. Vanguard Group Inc. increased its position in Consolidated Communications by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after acquiring an additional 44,238 shares during the period. Dimensional Fund Advisors LP increased its position in Consolidated Communications by 8.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,111,064 shares of the utilities provider’s stock valued at $53,608,000 after acquiring an additional 314,701 shares during the period. Private Management Group Inc. increased its position in Consolidated Communications by 14.2% in the 2nd quarter. Private Management Group Inc. now owns 2,633,358 shares of the utilities provider’s stock valued at $32,548,000 after acquiring an additional 326,751 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Consolidated Communications by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,504,120 shares of the utilities provider’s stock valued at $32,653,000 after acquiring an additional 137,218 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s stock.
CNSL stock opened at $13.82 on Friday. The company has a market cap of $991.81 million, a P/E ratio of 53.15 and a beta of 0.58. Consolidated Communications has a 1 year low of $10.31 and a 1 year high of $14.55. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.71.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be given a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a yield of 11.20%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s dividend payout ratio is 596.15%.
Consolidated Communications Company Profile
Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.
Read More: What are earnings reports?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consolidated Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications and related companies with MarketBeat.com's FREE daily email newsletter.