Wall Street brokerages expect that Consolidated Communications Holdings Inc (NASDAQ:CNSL) will announce $340.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Consolidated Communications’ earnings, with the highest sales estimate coming in at $341.50 million and the lowest estimate coming in at $339.50 million. Consolidated Communications posted sales of $356.36 million in the same quarter last year, which suggests a negative year over year growth rate of 4.5%. The firm is scheduled to announce its next earnings report on Thursday, March 7th.
On average, analysts expect that Consolidated Communications will report full year sales of $1.39 billion for the current financial year, with estimates ranging from $1.39 billion to $1.40 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.34 billion, with estimates ranging from $1.34 billion to $1.35 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Consolidated Communications.
Consolidated Communications (NASDAQ:CNSL) last posted its earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. Consolidated Communications had a net margin of 4.46% and a negative return on equity of 4.56%. The firm had revenue of $348.06 million during the quarter, compared to analysts’ expectations of $345.10 million. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year.
A number of research firms have recently commented on CNSL. Wells Fargo & Co cut Consolidated Communications from an “outperform” rating to a “market perform” rating and cut their target price for the company from $13.50 to $11.25 in a research note on Tuesday, January 8th. Zacks Investment Research raised shares of Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. BidaskClub raised shares of Consolidated Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 19th. Finally, ValuEngine raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $13.06.
Consolidated Communications stock traded up $0.34 during midday trading on Tuesday, reaching $10.95. The company’s stock had a trading volume of 524,100 shares, compared to its average volume of 763,400. Consolidated Communications has a 52 week low of $8.51 and a 52 week high of $14.23. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.71. The stock has a market cap of $761.67 million, a PE ratio of 42.12 and a beta of 0.97.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be issued a dividend of $0.387 per share. The ex-dividend date is Monday, January 14th. This represents a $1.55 dividend on an annualized basis and a yield of 14.14%. Consolidated Communications’s dividend payout ratio (DPR) is 596.15%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in shares of Consolidated Communications by 8.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 69,570 shares of the utilities provider’s stock worth $687,000 after buying an additional 5,500 shares during the last quarter. Vanguard Group Inc boosted its holdings in Consolidated Communications by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 7,641,474 shares of the utilities provider’s stock valued at $99,645,000 after acquiring an additional 44,238 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Consolidated Communications by 0.6% in 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 period. Morgan Stanley boosted its holdings in shares of Consolidated Communications by 96.8% in the third quarter. Morgan Stanley now owns 348,558 shares of the utilities provider’s stock valued at $4,545,000 after purchasing an additional 171,439 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Consolidated Communications by 16.3% in the third quarter. Legal & General Group Plc now owns 165,728 shares of the utilities provider’s stock valued at $2,153,000 after purchasing an additional 23,223 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.
About Consolidated Communications
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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