Wall Street analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to report $340.50 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Consolidated Communications’ earnings. The highest sales estimate is $341.50 million and the lowest is $339.50 million. Consolidated Communications reported sales of $356.36 million in the same quarter last year, which indicates a negative year over year growth rate of 4.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Consolidated Communications will report full year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.39 billion to $1.40 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.37 billion, with estimates ranging from $1.35 billion to $1.39 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Consolidated Communications.
Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. Consolidated Communications had a negative return on equity of 4.56% and a net margin of 4.46%. 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.
CNSL has been the subject of a number of recent analyst reports. Zacks Investment Research raised Consolidated Communications from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 17th. BidaskClub raised Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Finally, ValuEngine raised Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.67.
Shares of CNSL traded down $0.56 during mid-day trading on Wednesday, reaching $13.23. The company’s stock had a trading volume of 532,248 shares, compared to its average volume of 771,837. Consolidated Communications has a 1-year low of $10.31 and a 1-year high of $14.65. The company has a quick ratio of 0.78, a current ratio of 0.72 and a debt-to-equity ratio of 4.71.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be paid a dividend of $0.387 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.70%. Consolidated Communications’s dividend payout ratio (DPR) is currently 596.15%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Consolidated Communications by 3.7% during the second quarter. Wells Fargo & Company MN now owns 969,172 shares of the utilities provider’s stock worth $11,979,000 after purchasing an additional 34,675 shares during the period. BlackRock Inc. increased its stake in shares of Consolidated Communications by 17.4% during the second quarter. BlackRock Inc. now owns 10,215,484 shares of the utilities provider’s stock worth $126,262,000 after purchasing an additional 1,516,254 shares during the period. Rhumbline Advisers increased its stake in shares of Consolidated Communications by 6.2% during the second quarter. Rhumbline Advisers now owns 163,167 shares of the utilities provider’s stock worth $2,017,000 after purchasing an additional 9,534 shares during the period. Macquarie Group Ltd. increased its stake in shares of Consolidated Communications by 85.5% during the second quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 4,700 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Consolidated Communications by 6.4% during the second quarter. Legal & General Group Plc now owns 142,505 shares of the utilities provider’s stock worth $1,763,000 after purchasing an additional 8,547 shares during the period. Institutional investors own 71.55% 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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