Consolidated Communications (CNSL) Bonds Trading 1% Higher

An issue of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) debt rose 1% against its face value during trading on Monday. The high-yield issue of debt has a 6.5% coupon and will mature on October 1, 2022. The bonds in the issue are now trading at $92.00. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.

A number of brokerages recently commented on CNSL. ValuEngine lowered Consolidated Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday. BidaskClub upgraded Consolidated Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 28th. Cowen restated a “hold” rating and issued a $14.00 target price on shares of Consolidated Communications in a research note on Friday, March 2nd. Zacks Investment Research upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Monday, March 5th. Finally, TheStreet upgraded Consolidated Communications from a “d+” rating to a “c” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.50.

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Shares of NASDAQ CNSL traded up $0.16 during trading hours on Monday, reaching $11.06. The stock had a trading volume of 526,586 shares, compared to its average volume of 1,049,279. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 4.03. The firm has a market capitalization of $771.47, a price-to-earnings ratio of 42.54, a PEG ratio of 98.20 and a beta of 0.75. Consolidated Communications Holdings, Inc. has a twelve month low of $10.31 and a twelve month high of $24.80.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, March 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Consolidated Communications had a return on equity of 2.83% and a net margin of 6.13%. The company had revenue of $356.40 million for the quarter, compared to analyst estimates of $356.72 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. research analysts anticipate that Consolidated Communications Holdings, Inc. will post 0.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Sunday, April 15th will be paid a dividend of $0.3874 per share. This is a positive change from Consolidated Communications’s previous quarterly dividend of $0.39. This represents a $1.55 annualized dividend and a yield of 14.01%. The ex-dividend date is Thursday, April 12th. Consolidated Communications’s dividend payout ratio is currently 596.15%.

Institutional investors have recently added to or reduced their stakes in the business. Bfsg LLC acquired a new position in Consolidated Communications during the fourth quarter worth $129,000. Jump Trading LLC acquired a new position in Consolidated Communications during the fourth quarter worth $133,000. Amundi Pioneer Asset Management Inc. acquired a new position in Consolidated Communications during the fourth quarter worth $138,000. Vident Investment Advisory LLC acquired a new position in Consolidated Communications during the fourth quarter worth $139,000. Finally, Virtu Financial LLC acquired a new position in Consolidated Communications during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 74.57% of the company’s stock.

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About Consolidated Communications

Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.

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