Analysts Set Consolidated Communications Holdings Inc (CNSL) Target Price at $13.67
Shares of Consolidated Communications Holdings Inc (NASDAQ:CNSL) have earned an average rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $13.67.
A number of research firms recently issued reports on CNSL. Zacks Investment Research downgraded shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. BidaskClub raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Finally, ValuEngine raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new position in shares of Consolidated Communications during the second quarter valued at approximately $126,000. Macquarie Group Ltd. increased its stake in shares of Consolidated Communications by 85.5% during the second quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 4,700 shares in the last quarter. S. Muoio & CO. LLC bought a new position in shares of Consolidated Communications during the second quarter valued at approximately $135,000. Saba Capital Management L.P. bought a new position in shares of Consolidated Communications during the second quarter valued at approximately $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Consolidated Communications during the second quarter valued at approximately $170,000. 73.83% of the stock is owned by institutional investors and hedge funds.
Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.05. Consolidated Communications had a net margin of 4.46% and a negative return on equity of 4.56%. The company had revenue of $348.06 million during the quarter, compared to the consensus estimate of $345.10 million. Consolidated Communications’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Consolidated Communications will post -0.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.75%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s dividend payout ratio is 596.15%.
Consolidated Communications Company Profile
Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.
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