Equities analysts predict that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will post sales of $333.00 million for the current quarter, according to Zacks. Two analysts have made estimates for Consolidated Communications’ earnings, with the highest sales estimate coming in at $334.40 million and the lowest estimate coming in at $331.60 million. Consolidated Communications posted sales of $350.22 million in the same quarter last year, which suggests a negative year over year growth rate of 4.9%. The firm is expected to issue its next earnings report before the market opens on Thursday, August 1st.
On average, analysts expect that Consolidated Communications will report full year sales of $1.34 billion for the current financial year, with estimates ranging from $1.33 billion to $1.34 billion. For the next year, analysts anticipate that the firm will post sales of $1.30 billion, with estimates ranging from $1.29 billion to $1.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Consolidated Communications.
Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.11. The business had revenue of $338.65 million during the quarter, compared to the consensus estimate of $338.29 million. Consolidated Communications had a negative return on equity of 5.87% and a negative net margin of 3.39%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share.
Shares of CNSL stock traded down $0.45 during trading hours on Wednesday, hitting $4.50. The stock had a trading volume of 2,520,229 shares, compared to its average volume of 1,330,545. The company has a market capitalization of $356.90 million, a price-to-earnings ratio of -10.71 and a beta of 1.13. Consolidated Communications has a twelve month low of $3.91 and a twelve month high of $14.23. The stock has a 50 day moving average price of $4.78. The company has a debt-to-equity ratio of 6.14, a current ratio of 0.69 and a quick ratio of 0.69.
In related news, CEO C Robert Udell, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $4.34 per share, with a total value of $43,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 333,844 shares in the company, valued at $1,448,882.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in CNSL. First Trust Advisors LP raised its position in Consolidated Communications by 551.6% in the first quarter. First Trust Advisors LP now owns 1,357,511 shares of the utilities provider’s stock worth $14,810,000 after acquiring an additional 1,149,191 shares in the last quarter. Principal Financial Group Inc. raised its position in Consolidated Communications by 19.5% in the first quarter. Principal Financial Group Inc. now owns 4,852,919 shares of the utilities provider’s stock worth $52,945,000 after acquiring an additional 791,953 shares in the last quarter. Norges Bank purchased a new position in Consolidated Communications in the fourth quarter worth $7,010,000. JPMorgan Chase & Co. raised its position in Consolidated Communications by 97.2% in the first quarter. JPMorgan Chase & Co. now owns 846,028 shares of the utilities provider’s stock worth $9,230,000 after acquiring an additional 417,106 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Consolidated Communications by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,320,113 shares of the utilities provider’s stock worth $42,683,000 after acquiring an additional 209,049 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.
About Consolidated Communications
Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.
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