Consolidated Communications (CNSL) Rating Increased to Hold at Zacks Investment Research

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Consolidated Communications (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “

Separately, BidaskClub raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Friday, October 5th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of Consolidated Communications stock opened at $12.52 on Tuesday. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.78 and a quick ratio of 0.78. Consolidated Communications has a twelve month low of $10.31 and a twelve month high of $19.30.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Consolidated Communications had a negative return on equity of 3.15% and a net margin of 3.47%. The business had revenue of $350.22 million for the quarter, compared to analysts’ expectations of $351.29 million. On average, sell-side analysts expect that Consolidated Communications will post -0.43 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Consolidated Communications by 3.7% in the 2nd quarter. Wells Fargo & Company MN now owns 969,172 shares of the utilities provider’s stock worth $11,979,000 after buying an additional 34,675 shares in the last quarter. BlackRock Inc. lifted its holdings in Consolidated Communications by 17.4% in the 2nd quarter. BlackRock Inc. now owns 10,215,484 shares of the utilities provider’s stock worth $126,262,000 after buying an additional 1,516,254 shares in the last quarter. Rhumbline Advisers lifted its holdings in Consolidated Communications by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 163,167 shares of the utilities provider’s stock worth $2,017,000 after buying an additional 9,534 shares in the last quarter. Legal & General Group Plc lifted its holdings in Consolidated Communications by 6.4% in the 2nd quarter. Legal & General Group Plc now owns 142,505 shares of the utilities provider’s stock worth $1,763,000 after buying an additional 8,547 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Consolidated Communications by 85.5% in the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock worth $126,000 after buying an additional 4,700 shares in the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.

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.

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