Zacks Investment Research lowered shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) from a hold rating to a sell rating in a research report released on Tuesday morning.

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. “

Several other research firms have also recently issued reports on CNSL. BidaskClub cut shares of Consolidated Communications Holdings from a buy rating to a hold rating in a research report on Tuesday, July 11th. Jefferies Group LLC cut their target price on shares of Consolidated Communications Holdings from $21.00 to $19.00 and set a hold rating for the company in a report on Friday, November 3rd. ValuEngine raised shares of Consolidated Communications Holdings from a sell rating to a hold rating in a report on Tuesday, July 25th. TheStreet lowered shares of Consolidated Communications Holdings from a c rating to a d+ rating in a report on Thursday, August 3rd. Finally, Cowen and Company reissued a hold rating and issued a $21.00 target price on shares of Consolidated Communications Holdings in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Consolidated Communications Holdings currently has a consensus rating of Hold and a consensus target price of $22.00.

Consolidated Communications Holdings (NASDAQ CNSL) traded down $0.13 during trading on Tuesday, hitting $14.21. 691,118 shares of the stock traded hands, compared to its average volume of 546,503. The company has a market capitalization of $1,030.00, a PE ratio of 42.57, a P/E/G ratio of 26.85 and a beta of 0.86. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.72 and a current ratio of 0.88. Consolidated Communications Holdings has a 52-week low of $14.17 and a 52-week high of $30.23.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be issued a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 10.89%. The ex-dividend date of this dividend is Thursday, January 11th. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently -287.04%.

In other news, Director Thomas A. Gerke acquired 6,850 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average cost of $14.63 per share, with a total value of $100,215.50. Following the completion of the purchase, the director now directly owns 12,667 shares of the company’s stock, valued at $185,318.21. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy D. Taron acquired 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director now directly owns 3,159 shares of the company’s stock, valued at $60,336.90. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 26,438 shares of company stock valued at $444,251. 3.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CNSL. BlackRock Inc. boosted its stake in Consolidated Communications Holdings by 97,076.8% during the first quarter. BlackRock Inc. now owns 7,040,459 shares of the utilities provider’s stock worth $164,887,000 after buying an additional 7,033,214 shares during the period. JPMorgan Chase & Co. boosted its stake in Consolidated Communications Holdings by 619,367.3% during the third quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock worth $17,758,000 after buying an additional 910,470 shares during the period. Principal Financial Group Inc. boosted its stake in Consolidated Communications Holdings by 85.9% during the second quarter. Principal Financial Group Inc. now owns 1,500,225 shares of the utilities provider’s stock worth $32,209,000 after buying an additional 693,132 shares during the period. Wells Fargo & Company MN boosted its stake in Consolidated Communications Holdings by 558.9% during the third quarter. Wells Fargo & Company MN now owns 758,557 shares of the utilities provider’s stock worth $14,473,000 after buying an additional 643,433 shares during the period. Finally, Royal Bank of Canada boosted its stake in Consolidated Communications Holdings 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 during the period. 67.72% of the stock is owned by institutional investors.

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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Analyst Recommendations for Consolidated Communications Holdings (NASDAQ:CNSL)

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