BidaskClub upgraded shares of Consolidated Communications (NASDAQ:CNSL) from a strong sell rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. ValuEngine raised Consolidated Communications from a hold rating to a buy rating in a research note on Wednesday, March 27th. Zacks Investment Research raised Consolidated Communications from a hold rating to a buy rating and set a $6.00 target price on the stock in a research note on Tuesday, April 30th. TheStreet cut Consolidated Communications from a c- rating to a d+ rating in a research note on Friday, April 26th. Raymond James cut Consolidated Communications to a market perform rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Co raised Consolidated Communications from a market perform rating to an outperform rating and reduced their target price for the company from $11.25 to $8.00 in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $6.00.

CNSL opened at $4.46 on Tuesday. The company has a debt-to-equity ratio of 6.14, a quick ratio of 0.69 and a current ratio of 0.69. Consolidated Communications has a 52-week low of $3.91 and a 52-week high of $14.23. The company has a market cap of $321.57 million, a PE ratio of -10.62 and a beta of 0.99.

Consolidated Communications (NASDAQ:CNSL) last posted its earnings results on Thursday, April 25th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.11. Consolidated Communications had a negative return on equity of 5.87% and a negative net margin of 3.39%. The firm had revenue of $338.65 million for the quarter, compared to analysts’ expectations of $338.29 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Consolidated Communications will post -0.25 EPS for the current year.

In other news, CEO C Robert Udell, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $43,400.00. Following the completion of the transaction, the chief executive officer now directly owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of Consolidated Communications by 1.0% during the fourth quarter. Legal & General Group Plc now owns 167,314 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 1,586 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Consolidated Communications by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 46,626 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 1,793 shares in the last quarter. Comerica Bank boosted its position in shares of Consolidated Communications by 3.0% during the first quarter. Comerica Bank now owns 72,991 shares of the utilities provider’s stock valued at $859,000 after purchasing an additional 2,155 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Consolidated Communications by 14.0% during the first quarter. Commonwealth Equity Services LLC now owns 18,383 shares of the utilities provider’s stock valued at $200,000 after purchasing an additional 2,253 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Consolidated Communications by 1.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 251,764 shares of the utilities provider’s stock valued at $2,747,000 after purchasing an additional 2,435 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

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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