Consolidated Communications (CNSL) Stock Rating Upgraded by Zacks Investment Research

Consolidated Communications (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “

Separately, BidaskClub upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.50.

NASDAQ:CNSL traded up $0.44 during mid-day trading on Tuesday, reaching $12.53. The stock had a trading volume of 534,738 shares, compared to its average volume of 781,991. The company has a market capitalization of $854.32 million, a price-to-earnings ratio of 48.19 and a beta of 0.70. Consolidated Communications has a one year low of $10.31 and a one year high of $19.30. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.78 and a quick ratio of 0.78.

Consolidated Communications (NASDAQ:CNSL) last released its earnings results on Thursday, August 2nd. The utilities provider reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). The firm had revenue of $350.22 million during the quarter, compared to the consensus estimate of $351.29 million. Consolidated Communications had a negative return on equity of 3.15% and a net margin of 3.47%. As a group, sell-side analysts anticipate that Consolidated Communications will post -0.43 EPS for the current year.

A number of hedge funds have recently made changes to their positions in CNSL. Northern Trust Corp lifted its position in Consolidated Communications by 2.2% in the first quarter. Northern Trust Corp now owns 840,265 shares of the utilities provider’s stock valued at $9,210,000 after purchasing an additional 17,967 shares during the last quarter. California Public Employees Retirement System lifted its position in Consolidated Communications by 11.9% in the first quarter. California Public Employees Retirement System now owns 136,643 shares of the utilities provider’s stock valued at $1,498,000 after purchasing an additional 14,557 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Consolidated Communications by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,268,640 shares of the utilities provider’s stock valued at $35,824,000 after purchasing an additional 238,403 shares during the last quarter. UBS Group AG lifted its position in Consolidated Communications by 74.5% in the first quarter. UBS Group AG now owns 155,092 shares of the utilities provider’s stock valued at $1,700,000 after purchasing an additional 66,217 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Consolidated Communications by 17.9% during the first quarter. Cubist Systematic Strategies LLC now owns 37,210 shares of the utilities provider’s stock valued at $408,000 after buying an additional 5,654 shares during the period. Hedge funds and other institutional investors own 71.63% of the company’s stock.

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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