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

Posted by on Jun 21st, 2022

Consolidated Communications (NASDAQ:CNSL – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other analysts also recently issued reports on CNSL. TheStreet downgraded shares of Consolidated Communications from a “c-” rating to a “d+” rating in a research report on Friday, May 6th. Wells Fargo & Company reduced their price target on shares of Consolidated Communications from $9.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, March 4th. Finally, Citigroup raised shares of Consolidated Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $4.00 to $5.00 in a report on Tuesday, March 8th.

Shares of NASDAQ:CNSL traded down $0.32 during mid-day trading on Monday, hitting $6.64. The company had a trading volume of 86,185 shares, compared to its average volume of 484,991. The firm has a fifty day moving average price of $6.55 and a 200 day moving average price of $6.75. The company has a market capitalization of $766.23 million, a PE ratio of -3.77 and a beta of 1.06. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.44 and a quick ratio of 1.44. Consolidated Communications has a one year low of $4.51 and a one year high of $9.70.

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

Large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Consolidated Communications in the 1st quarter valued at about $294,000. Diameter Capital Partners LP bought a new stake in Consolidated Communications in the 1st quarter valued at about $3,150,000. Goldman Sachs Group Inc. raised its stake in Consolidated Communications by 55.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 399,775 shares of the utilities provider’s stock valued at $2,358,000 after acquiring an additional 142,285 shares during the period. B. Riley Asset Management LLC bought a new stake in Consolidated Communications in the 1st quarter valued at about $2,555,000. Finally, Captrust Financial Advisors raised its stake in Consolidated Communications by 38.2% in the 1st quarter. Captrust Financial Advisors now owns 7,183 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 1,987 shares during the period. 93.88% of the stock is currently owned by institutional investors.

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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