Consolidated Communications (NASDAQ:CNSL) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

CNSL has been the topic of several other research reports. Zacks Investment Research upgraded shares of Consolidated Communications from a hold rating to a strong-buy rating and set a $5.75 price objective on the stock in a research note on Monday, July 1st. ValuEngine upgraded shares of Consolidated Communications from a sell rating to a hold rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Consolidated Communications has a consensus rating of Buy and an average price target of $5.92.

CNSL opened at $4.70 on Thursday. The firm has a market cap of $386.33 million, a price-to-earnings ratio of -11.19 and a beta of 1.16. Consolidated Communications has a fifty-two week low of $3.90 and a fifty-two week high of $14.23. The company’s 50-day moving average price is $4.59 and its 200 day moving average price is $6.45. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 6.43.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $333.53 million for the quarter, compared to analyst estimates of $333.65 million. Consolidated Communications had a negative net margin of 3.19% and a negative return on equity of 5.29%. Consolidated Communications’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Research analysts anticipate that Consolidated Communications will post -0.11 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc bought a new position in Consolidated Communications in the 2nd quarter worth about $38,000. Paradigm Financial Advisors LLC bought a new position in Consolidated Communications in the 2nd quarter worth about $51,000. Public Employees Retirement System of Ohio grew its position in Consolidated Communications by 42.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,528 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 3,744 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Consolidated Communications in the 2nd quarter worth about $70,000. Finally, Magnus Financial Group LLC grew its position in Consolidated Communications by 42.1% in the 2nd quarter. Magnus Financial Group LLC now owns 16,431 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 4,864 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Consolidated Communications Company Profile

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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