Wall Street brokerages predict that Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) will post $362.75 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Consolidated Communications Holdings’ earnings, with estimates ranging from $353.90 million to $368.60 million. Consolidated Communications Holdings reported sales of $191.54 million in the same quarter last year, which indicates a positive year over year growth rate of 89.4%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Consolidated Communications Holdings will report full-year sales of $362.75 million for the current year, with estimates ranging from $1.05 billion to $1.07 billion. For the next year, analysts anticipate that the firm will report sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Consolidated Communications Holdings.
Consolidated Communications Holdings (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The company had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. During the same period last year, the business earned $0.20 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. TheStreet lowered Consolidated Communications Holdings from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. Cowen and Company restated a “hold” rating and issued a $22.00 price target on shares of Consolidated Communications Holdings in a report on Friday, July 28th. Finally, ValuEngine upgraded Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Consolidated Communications Holdings has an average rating of “Hold” and an average price target of $24.50.
In other Consolidated Communications Holdings news, Director Robert J. Currey acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the purchase, the director now directly owns 48,495 shares of the company’s stock, valued at $937,408.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wayne Wilson acquired 3,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $17.45 per share, for a total transaction of $52,350.00. Following the purchase, the director now directly owns 50,211 shares of the company’s stock, valued at $876,181.95. The disclosure for this purchase can be found here. Insiders have purchased 26,688 shares of company stock worth $495,724 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Karp Capital Management Corp bought a new stake in Consolidated Communications Holdings in the first quarter valued at approximately $897,000. Schroder Investment Management Group raised its stake in Consolidated Communications Holdings by 41.9% in the second quarter. Schroder Investment Management Group now owns 33,422 shares of the utilities provider’s stock valued at $714,000 after buying an additional 9,876 shares during the period. Vanguard Group Inc. raised its stake in Consolidated Communications Holdings by 7.3% in the first quarter. Vanguard Group Inc. now owns 5,607,472 shares of the utilities provider’s stock valued at $131,326,000 after buying an additional 380,770 shares during the period. Dimensional Fund Advisors LP raised its stake in Consolidated Communications Holdings by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,941,090 shares of the utilities provider’s stock valued at $45,461,000 after buying an additional 32,584 shares during the period. Finally, North Star Investment Management Corp. raised its stake in Consolidated Communications Holdings by 19.0% in the second quarter. North Star Investment Management Corp. now owns 123,806 shares of the utilities provider’s stock valued at $2,658,000 after buying an additional 19,785 shares during the period. Hedge funds and other institutional investors own 67.72% of the company’s stock.
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Consolidated Communications Holdings (NASDAQ:CNSL) traded down 1.37% during midday trading on Thursday, hitting $19.41. The stock had a trading volume of 216,376 shares. Consolidated Communications Holdings has a 52 week low of $17.21 and a 52 week high of $30.23. The firm has a market cap of $1.37 billion, a P/E ratio of 6470.00 and a beta of 0.90. The stock has a 50-day moving average of $18.97 and a 200-day moving average of $20.33.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Sunday, October 15th will be issued a dividend of $0.3874 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 7.98%. Consolidated Communications Holdings’s payout ratio is presently 15,500.00%.
Consolidated Communications Holdings Company Profile
Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.
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