Consolidated Communications (NASDAQ:CNSL) Share Price Crosses Above 200 Day Moving Average of $4.38

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.38 and traded as high as $4.57. Consolidated Communications shares last traded at $4.56, with a volume of 461,729 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Consolidated Communications in a research report on Saturday, July 27th. They issued a “sell” rating for the company.

Consolidated Communications Stock Performance

The stock has a market capitalization of $540.04 million, a PE ratio of -1.76 and a beta of 1.00. The business’s 50 day moving average is $4.49 and its 200 day moving average is $4.38. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 6.09.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.39) earnings per share (EPS) for the quarter. The firm had revenue of $268.71 million during the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNSL. Louisiana State Employees Retirement System bought a new position in Consolidated Communications in the 4th quarter worth about $162,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Consolidated Communications by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Consolidated Communications by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,374,522 shares of the utilities provider’s stock valued at $10,329,000 after purchasing an additional 73,582 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Consolidated Communications by 22.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,922 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 3,243 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Consolidated Communications during the 4th quarter worth $2,103,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

About Consolidated Communications

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, SIP trunking, 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; and data center and disaster recovery solutions.