Consolidated Communications (NASDAQ:CNSL) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other analysts also recently issued reports on CNSL. ValuEngine raised Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Zacks Investment Research raised Consolidated Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and an average target price of $14.50.

Shares of CNSL opened at $12.88 on Wednesday. The company has a market cap of $951.93 million, a P/E ratio of 49.54 and a beta of 0.72. Consolidated Communications has a 12-month low of $10.31 and a 12-month high of $20.72. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.78 and a current ratio of 0.78.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. grew its holdings in Consolidated Communications by 85.5% during the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock valued at $126,000 after buying an additional 4,700 shares in the last quarter. Schroder Investment Management Group grew its holdings in Consolidated Communications by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 44,628 shares of the utilities provider’s stock valued at $553,000 after buying an additional 5,044 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Consolidated Communications by 17.9% during the 1st 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 in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Consolidated Communications by 36.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 25,453 shares of the utilities provider’s stock valued at $315,000 after buying an additional 6,800 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Consolidated Communications by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 142,505 shares of the utilities provider’s stock valued at $1,763,000 after buying an additional 8,547 shares in the last quarter. Institutional investors and hedge funds own 71.33% 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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