Zacks: Analysts Expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) Will Post Quarterly Sales of $333.55 Million

Equities analysts expect Consolidated Communications Holdings Inc (NASDAQ:CNSL) to report sales of $333.55 million for the current quarter, Zacks reports. Two analysts have issued estimates for Consolidated Communications’ earnings, with the highest sales estimate coming in at $335.10 million and the lowest estimate coming in at $332.00 million. Consolidated Communications reported sales of $348.06 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The company is scheduled to announce its next earnings results on Thursday, November 7th.

On average, analysts expect that Consolidated Communications will report full-year sales of $1.34 billion for the current financial year, with estimates ranging from $1.33 billion to $1.34 billion. For the next year, analysts expect that the company will report sales of $1.30 billion, with estimates ranging from $1.29 billion to $1.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Consolidated Communications.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.05. Consolidated Communications had a negative return on equity of 5.29% and a negative net margin of 3.19%. The company had revenue of $333.53 million during the quarter, compared to the consensus estimate of $333.65 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis.



Several equities analysts have issued reports on the company. BidaskClub upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Co raised Consolidated Communications from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $11.25 to $8.00 in a research note on Friday, April 26th. Zacks Investment Research raised Consolidated Communications from a “hold” rating to a “strong-buy” rating and set a $5.75 price objective for the company in a research note on Monday, July 1st. Guggenheim cut Consolidated Communications from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $8.00 to $4.00 in a research note on Friday, April 26th. Finally, ValuEngine raised Consolidated Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Consolidated Communications presently has an average rating of “Buy” and a consensus price target of $5.92.

CNSL traded down $0.17 during trading on Friday, hitting $4.65. The company’s stock had a trading volume of 661,300 shares, compared to its average volume of 1,310,353. The company’s 50 day moving average price is $4.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 6.43. Consolidated Communications has a 12 month low of $3.91 and a 12 month high of $14.23. The company has a market capitalization of $335.89 million, a PE ratio of -11.08 and a beta of 1.15.

In related news, CEO C Robert Udell, Jr. bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $4.34 per share, for a total transaction of $43,400.00. Following the completion of the acquisition, the chief executive officer now owns 333,844 shares of the company’s stock, valued at approximately $1,448,882.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNSL. Advisor Group Inc. raised its holdings in Consolidated Communications by 164.3% during the fourth quarter. Advisor Group Inc. now owns 9,014 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 5,603 shares in the last quarter. Geode Capital Management LLC increased its position in Consolidated Communications by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 798,187 shares of the utilities provider’s stock worth $7,886,000 after buying an additional 113,703 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Consolidated Communications by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,999 shares of the utilities provider’s stock worth $227,000 after buying an additional 17,962 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Consolidated Communications during the fourth quarter worth approximately $355,000. Finally, Thrivent Financial for Lutherans increased its position in Consolidated Communications by 10.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 50,106 shares of the utilities provider’s stock worth $495,000 after buying an additional 4,690 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Consolidated Communications

Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.

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