$338.35 Million in Sales Expected for Consolidated Communications Holdings Inc (CNSL) This Quarter

Wall Street brokerages expect that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will post sales of $338.35 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Consolidated Communications’ earnings, with estimates ranging from $337.40 million to $339.30 million. Consolidated Communications posted sales of $356.04 million in the same quarter last year, which would indicate a negative year over year growth rate of 5%. The company is expected to announce its next earnings results before the market opens on Thursday, April 25th.

On average, analysts expect that Consolidated Communications will report full-year sales of $1.35 billion for the current financial year, with estimates ranging from $1.34 billion to $1.35 billion. For the next year, analysts anticipate that the company will report sales of $1.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Consolidated Communications.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, February 21st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. The company had revenue of $344.80 million for the quarter, compared to analysts’ expectations of $340.90 million. Consolidated Communications had a negative net margin of 3.63% and a negative return on equity of 5.80%. Consolidated Communications’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS.

CNSL has been the topic of several research analyst reports. Zacks Investment Research cut shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Wells Fargo & Co cut shares of Consolidated Communications from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $13.50 to $11.25 in a research note on Tuesday, January 8th. Raymond James cut shares of Consolidated Communications from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, February 19th. BidaskClub cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, ValuEngine upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.63.

Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new position in Consolidated Communications during the 4th quarter valued at about $27,000. American Research & Management Co. bought a new position in shares of Consolidated Communications in the 1st quarter worth approximately $33,000. Macquarie Group Ltd. bought a new position in shares of Consolidated Communications in the 4th quarter worth approximately $87,000. Advisor Group Inc. lifted its stake in shares of Consolidated Communications by 164.3% in the 4th quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 5,603 shares during the period. Finally, JNBA Financial Advisors bought a new position in shares of Consolidated Communications in the 4th quarter worth approximately $109,000. Institutional investors and hedge funds own 70.77% of the company’s stock.

Consolidated Communications stock traded down $0.03 during mid-day trading on Wednesday, reaching $8.89. The stock had a trading volume of 2,138,332 shares, compared to its average volume of 935,665. The stock has a market cap of $640.04 million, a price-to-earnings ratio of -21.17 and a beta of 1.09. Consolidated Communications has a one year low of $8.51 and a one year high of $14.23. The company has a debt-to-equity ratio of 5.54, a current ratio of 0.70 and a quick ratio of 0.70.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.3874 per share. The ex-dividend date is Friday, April 12th. This represents a $1.55 annualized dividend and a yield of 17.43%. This is a boost from Consolidated Communications’s previous quarterly dividend of $0.39. Consolidated Communications’s dividend payout ratio is currently -369.05%.

About Consolidated Communications

Consolidated Communications Holdings, Inc provides business and broadband communications services. It provides integrated communication 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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