Zacks Investment Research Downgrades Consolidated Communications (CNSL) to Sell

Consolidated Communications (NASDAQ:CNSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

CNSL has been the topic of several other reports. Drexel Hamilton upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. They noted that the move was a valuation call. ValuEngine downgraded Consolidated Communications from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Cowen reaffirmed a “hold” rating and issued a $21.00 target price on shares of Consolidated Communications in a research report on Thursday, October 19th. Finally, Jefferies Group dropped their target price on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $22.00.

Shares of Consolidated Communications (NASDAQ CNSL) traded down $0.07 on Tuesday, reaching $12.47. 815,000 shares of the company traded hands, compared to its average volume of 1,267,127. The stock has a market cap of $888.28, a price-to-earnings ratio of -23.09, a P/E/G ratio of 22.10 and a beta of 0.74. Consolidated Communications has a 12-month low of $12.03 and a 12-month high of $26.79. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88.

In other news, Director Robert J. Currey bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was bought at an average cost of $13.43 per share, with a total value of $67,150.00. Following the transaction, the director now directly owns 45,995 shares in the company, valued at approximately $617,712.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas A. Gerke acquired 6,850 shares of the stock in a transaction dated Tuesday, November 7th. The shares were bought at an average cost of $14.63 per share, with a total value of $100,215.50. Following the completion of the transaction, the director now owns 12,667 shares of the company’s stock, valued at approximately $185,318.21. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 17,550 shares of company stock valued at $247,203. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position 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 worth $151,539,000 after buying an additional 17,697 shares in the last quarter. Royal Bank of Canada grew its position in shares of 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 worth $129,462,000 after buying an additional 601,410 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Consolidated Communications by 0.9% during the second quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock worth $121,425,000 after buying an additional 48,111 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 worth $50,436,000 after buying an additional 721,763 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of 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 worth $33,009,000 after buying an additional 229,836 shares in the last quarter. 70.79% of the stock is owned by institutional investors and hedge funds.

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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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Analyst Recommendations for Consolidated Communications (NASDAQ:CNSL)

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