Consolidated Communications Holdings Inc (CNSL) Expected to Announce Earnings of -$0.09 Per Share

Wall Street analysts expect that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will report earnings per share of ($0.09) for the current quarter, Zacks reports. Two analysts have provided estimates for Consolidated Communications’ earnings. Consolidated Communications posted earnings of ($0.07) per share in the same quarter last year, which indicates a negative year over year growth rate of 28.6%. The business is expected to issue its next earnings report before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that Consolidated Communications will report full year earnings of ($0.35) per share for the current year. For the next year, analysts forecast that the business will report earnings of ($0.36) per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Consolidated Communications.

Consolidated Communications (NASDAQ:CNSL) last posted its earnings results on Thursday, February 21st. The utilities provider reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The company had revenue of $344.80 million during 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 quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. ValuEngine cut shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BidaskClub upgraded shares of Consolidated Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Consolidated Communications has a consensus rating of “Hold” and an average price target of $13.63.

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in Consolidated Communications by 11.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,060,966 shares of the utilities provider’s stock valued at $40,122,000 after purchasing an additional 417,662 shares during the last quarter. BlackRock Inc. lifted its position in Consolidated Communications by 8.0% during the third quarter. BlackRock Inc. now owns 11,029,285 shares of the utilities provider’s stock valued at $143,823,000 after purchasing an additional 813,801 shares during the last quarter. Mackay Shields LLC bought a new position in Consolidated Communications during the fourth quarter valued at $589,000. Vanguard Group Inc lifted its position in Consolidated Communications by 0.6% during the third quarter. Vanguard Group Inc now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after purchasing an additional 44,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Consolidated Communications by 8.3% during the third quarter. Dimensional Fund Advisors LP now owns 4,111,064 shares of the utilities provider’s stock valued at $53,608,000 after purchasing an additional 314,701 shares during the last quarter. Institutional investors and hedge funds own 70.77% of the company’s stock.

CNSL traded down $0.63 during trading on Monday, hitting $9.29. 2,204,356 shares of the company traded hands, compared to its average volume of 892,562. The stock has a market capitalization of $668.83 million, a price-to-earnings ratio of -22.12 and a beta of 1.09. Consolidated Communications has a 1 year low of $8.51 and a 1 year high of $14.23. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.70 and a current ratio of 0.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given 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 16.68%. This is a positive change from Consolidated Communications’s previous quarterly dividend of $0.39. Consolidated Communications’s dividend payout ratio (DPR) is -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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