Consolidated Communications (NASDAQ:CNSL) Downgraded by StockNews.com to Sell

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

A number of other brokerages also recently weighed in on CNSL. Wells Fargo & Company lowered their target price on Consolidated Communications from $9.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, March 4th. Citigroup upgraded Consolidated Communications from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $4.00 to $5.00 in a report on Tuesday, March 8th. Finally, TheStreet downgraded Consolidated Communications from a “c-” rating to a “d+” rating in a report on Friday, May 6th.

NASDAQ:CNSL opened at $8.14 on Friday. The stock’s 50-day simple moving average is $6.40 and its 200 day simple moving average is $6.80. The firm has a market capitalization of $939.32 million, a PE ratio of -4.63 and a beta of 1.06. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.92. Consolidated Communications has a twelve month low of $4.51 and a twelve month high of $9.70.

Consolidated Communications (NASDAQ:CNSLGet Rating) last posted its earnings results on Thursday, May 5th. The utilities provider reported $0.01 EPS for the quarter. Consolidated Communications had a positive return on equity of 8.17% and a negative net margin of 12.77%. The firm had revenue of $300.28 million during the quarter.

A number of institutional investors have recently made changes to their positions in CNSL. Searchlight Capital Partners L.P. grew its stake in Consolidated Communications by 519.2% in the fourth 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 acquiring an additional 32,985,911 shares during the period. Mountaineer Partners Management LLC acquired a new stake in Consolidated Communications in the fourth quarter valued at approximately $6,208,000. State Street Corp grew its stake in Consolidated Communications by 23.2% in the fourth quarter. State Street Corp now owns 4,056,609 shares of the utilities provider’s stock valued at $30,343,000 after acquiring an additional 764,810 shares during the period. Diameter Capital Partners LP acquired a new stake in Consolidated Communications in the first quarter valued at approximately $3,150,000. Finally, B. Riley Asset Management LLC acquired a new stake in Consolidated Communications in the first quarter valued at approximately $2,555,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Consolidated Communications Company Profile (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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