Consolidated Communications (CNSL) Raised to Sell at BidaskClub
BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday.
A number of other research firms have also recently issued reports on CNSL. Zacks Investment Research upgraded shares of Consolidated Communications from a sell rating to a hold rating in a research note on Monday, February 26th. Jefferies Group dropped their price objective on shares of Consolidated Communications from $21.00 to $19.00 and set a hold rating for the company in a research note on Friday, November 3rd. ValuEngine cut shares of Consolidated Communications from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, Drexel Hamilton upgraded shares of Consolidated Communications from a hold rating to a buy rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. 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 to the company. Consolidated Communications currently has a consensus rating of Hold and a consensus price target of $19.67.
Consolidated Communications (CNSL) traded down $0.22 during midday trading on Wednesday, hitting $11.83. 1,597,307 shares of the stock were exchanged, compared to its average volume of 941,421. The company has a current ratio of 0.83, a quick ratio of 0.88 and a debt-to-equity ratio of 4.03. The firm has a market cap of $822.69, a PE ratio of -16.21, a PEG ratio of 24.12 and a beta of 0.74. Consolidated Communications has a one year low of $10.83 and a one year high of $24.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Sunday, April 15th will be paid a $0.3874 dividend. This is a boost from Consolidated Communications’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.55 annualized dividend and a yield of 13.10%. Consolidated Communications’s payout ratio is -212.33%.
Institutional investors have recently modified their holdings of the business. Csenge Advisory Group acquired a new stake in Consolidated Communications in the 3rd quarter worth about $257,000. Bank of New York Mellon Corp raised its stake in Consolidated Communications by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,463,325 shares of the utilities provider’s stock worth $27,919,000 after purchasing an additional 210,612 shares in the last quarter. North Star Investment Management Corp. raised its stake in Consolidated Communications by 41.2% in the 4th quarter. North Star Investment Management Corp. now owns 457,302 shares of the utilities provider’s stock worth $5,575,000 after purchasing an additional 133,493 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Consolidated Communications in the 3rd quarter worth about $751,000. Finally, JPMorgan Chase & Co. increased its holdings in Consolidated Communications by 619,367.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock valued at $17,758,000 after buying an additional 910,470 shares during the period. Institutional investors and hedge funds own 78.00% of the company’s stock.
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About Consolidated Communications
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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