Consolidated Communications (NASDAQ:CNSL) Raised to Hold at StockNews.com

Consolidated Communications (NASDAQ:CNSLGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other analysts have also commented on the company. TheStreet lowered Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, May 6th. Wells Fargo & Company decreased their price target on Consolidated Communications from $9.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, March 4th. Finally, Citigroup raised Consolidated Communications from a “sell” rating to a “neutral” rating and boosted their price target for the company from $4.00 to $5.00 in a research note on Tuesday, March 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Consolidated Communications has a consensus rating of “Hold” and a consensus price target of $6.33.

Shares of NASDAQ:CNSL traded up $0.50 during trading on Thursday, hitting $7.60. 1,263,679 shares of the stock were exchanged, compared to its average volume of 418,374. Consolidated Communications has a 1-year low of $4.51 and a 1-year high of $9.70. The company has a market capitalization of $877.01 million, a price-to-earnings ratio of -4.32 and a beta of 1.06. The company’s fifty day simple moving average is $6.19 and its 200-day simple moving average is $6.81. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.44 and a current ratio of 1.44.

Consolidated Communications (NASDAQ:CNSLGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.01 earnings per share for the quarter. Consolidated Communications had a positive return on equity of 8.17% and a negative net margin of 12.77%. The company had revenue of $300.28 million for the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of CNSL. Searchlight Capital Partners L.P. raised its position in Consolidated Communications by 519.2% in the 4th quarter. Searchlight Capital Partners L.P. now owns 39,338,753 shares of the utilities provider’s stock valued at $3,834,742,000 after purchasing an additional 32,985,911 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in Consolidated Communications in the 4th quarter valued at $6,208,000. State Street Corp raised its position in Consolidated Communications by 23.2% in the 4th quarter. State Street Corp now owns 4,056,609 shares of the utilities provider’s stock valued at $30,343,000 after purchasing an additional 764,810 shares during the last quarter. Diameter Capital Partners LP bought a new stake in shares of Consolidated Communications during the first quarter worth $3,150,000. Finally, B. Riley Asset Management LLC bought a new stake in shares of Consolidated Communications during the first quarter worth $2,555,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

About Consolidated Communications (Get Rating)

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; data center and disaster recovery solutions; and wholesale services to regional and national interexchange, and wireless carriers comprising cellular backhaul and other fiber transport solutions.

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