Consolidated Communications Holdings, Inc. (CNSL) Receives Average Rating of “Hold” from Brokerages

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.00.

Several analysts have recently weighed in on CNSL shares. BidaskClub raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. ValuEngine downgraded shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Cowen reissued a “hold” rating and set a $21.00 price objective on shares of Consolidated Communications in a report on Thursday, October 19th. Jefferies Group cut their price objective on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th.

Shares of Consolidated Communications (CNSL) opened at $13.56 on Monday. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88. Consolidated Communications has a 12 month low of $13.04 and a 12 month high of $28.83. The firm has a market cap of $960.54, a P/E ratio of 38.74, a PEG ratio of 24.43 and a beta of 0.73.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 15th will be issued a $0.387 dividend. This represents a $1.55 annualized dividend and a yield of 11.42%. The ex-dividend date of this dividend is Thursday, January 11th. Consolidated Communications’s dividend payout ratio is currently -287.03%.

In related news, Director Robert J. Currey acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $18.18 per share, with a total value of $36,360.00. Following the completion of the acquisition, the director now directly owns 45,995 shares of the company’s stock, valued at $836,189.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert J. Currey acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $13.43 per share, for a total transaction of $67,150.00. Following the completion of the acquisition, the director now directly owns 45,995 shares of the company’s stock, valued at $617,712.85. The disclosure for this purchase can be found here. Insiders acquired 27,550 shares of company stock worth $423,913 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Consolidated Communications by 0.3% during the second quarter. BlackRock Inc. now owns 7,058,156 shares of the utilities provider’s stock valued at $151,539,000 after buying an additional 17,697 shares during the last quarter. Royal Bank of Canada lifted its position in Consolidated Communications by 11.1% during the second quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock valued at $129,462,000 after purchasing an additional 601,410 shares during the period. Vanguard Group Inc. lifted its position in Consolidated Communications by 0.9% during the second quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock valued at $121,425,000 after purchasing an additional 48,111 shares during the period. Dimensional Fund Advisors LP lifted its position in Consolidated Communications by 37.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,643,331 shares of the utilities provider’s stock valued at $50,436,000 after purchasing an additional 721,763 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Consolidated Communications by 15.3% during the third quarter. Principal Financial Group Inc. now owns 1,730,061 shares of the utilities provider’s stock valued at $33,009,000 after purchasing an additional 229,836 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

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Consolidated Communications 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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