BidaskClub downgraded shares of Consolidated Communications (NASDAQ:CNSL) from a buy rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other brokerages have also weighed in on CNSL. ValuEngine raised shares of Consolidated Communications from a sell rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Consolidated Communications from a hold rating to a strong-buy rating and set a $5.75 target price on the stock in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Consolidated Communications currently has a consensus rating of Hold and an average target price of $5.92.

Shares of Consolidated Communications stock opened at $4.03 on Wednesday. The company’s fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $6.84. The company has a debt-to-equity ratio of 6.43, a current ratio of 0.76 and a quick ratio of 0.76. Consolidated Communications has a 12-month low of $3.90 and a 12-month high of $14.23.

Consolidated Communications (NASDAQ:CNSL) last announced its earnings results on Thursday, August 1st. The utilities provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $333.53 million for the quarter, compared to analyst estimates of $333.65 million. Consolidated Communications had a negative net margin of 3.19% and a negative return on equity of 5.29%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) EPS. As a group, equities analysts forecast that Consolidated Communications will post -0.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Consolidated Communications by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,320,113 shares of the utilities provider’s stock valued at $42,683,000 after purchasing an additional 209,049 shares in the last quarter. Norges Bank bought a new stake in shares of Consolidated Communications during the 4th quarter worth about $7,010,000. Brinker Capital Inc. boosted its stake in shares of Consolidated Communications by 51.8% during the 1st quarter. Brinker Capital Inc. now owns 18,662 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 6,368 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Consolidated Communications by 406.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,551 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 13,284 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Consolidated Communications by 5.8% during the 1st quarter. SG Americas Securities LLC now owns 59,516 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 3,261 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

About Consolidated Communications

Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.

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