Consolidated Communications Holdings, Inc. (CNSL) Sets New 52-Week Low on Analyst Downgrade

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) hit a new 52-week low on Friday after Jefferies Group lowered their price target on the stock from $21.00 to $19.00. Jefferies Group currently has a hold rating on the stock. Consolidated Communications Holdings traded as low as $16.46 and last traded at $0.00, with a volume of shares traded.

CNSL has been the subject of a number of other reports. Cowen and Company reiterated a “hold” rating and issued a $22.00 price target on shares of Consolidated Communications Holdings in a research note on Friday, July 28th. ValuEngine cut Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. TheStreet cut Consolidated Communications Holdings from a “c” rating to a “d+” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $23.00.

In other news, Director Richard Anthony Lumpkin acquired 5,300 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $19.17 per share, with a total value of $101,601.00. Following the completion of the acquisition, the director now owns 12,667 shares of the company’s stock, valued at $242,826.39. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert J. Currey acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the acquisition, the director now directly owns 48,495 shares of the company’s stock, valued at approximately $937,408.35. The disclosure for this purchase can be found here. Insiders bought 26,688 shares of company stock worth $495,724 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Consolidated Communications Holdings in the second quarter valued at about $127,000. QS Investors LLC increased its holdings in shares of Consolidated Communications Holdings by 17,467.6% in the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 6,463 shares during the period. Advisor Group Inc. increased its holdings in shares of Consolidated Communications Holdings by 28.7% in the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,846 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Consolidated Communications Holdings in the third quarter valued at about $194,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Consolidated Communications Holdings by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 10,020 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 4,430 shares during the period. 67.72% of the stock is currently owned by institutional investors and hedge funds.

The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 4.61. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 51.43, a price-to-earnings-growth ratio of 19.33 and a beta of 0.86.

Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Consolidated Communications Holdings had a negative net margin of 3.96% and a positive return on equity of 7.43%. The company had revenue of $169.95 million for the quarter, compared to the consensus estimate of $169.69 million. During the same quarter in the previous year, the company earned $0.20 EPS. Consolidated Communications Holdings’s quarterly revenue was down 9.1% compared to the same quarter last year. analysts expect that Consolidated Communications Holdings, Inc. will post 0.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 9.64%. Consolidated Communications Holdings’s payout ratio is presently -287.03%.

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Consolidated Communications Holdings 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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