Zacks Investment Research lowered shares of Consolidated Communications Holdings Inc. (NASDAQ:CNSL) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “

A number of other research firms also recently issued reports on CNSL. Drexel Hamilton downgraded shares of Consolidated Communications Holdings from a buy rating to a hold rating and set a $26.00 price target on the stock. in a research report on Monday, June 27th. They noted that the move was a valuation call. Raymond James Financial Inc. downgraded shares of Consolidated Communications Holdings from a market perform rating to an underperform rating in a research report on Friday, August 5th. They noted that the move was a valuation call. Jefferies Group restated a hold rating on shares of Consolidated Communications Holdings in a research report on Thursday, August 4th. Finally, Citigroup Inc. raised their price target on shares of Consolidated Communications Holdings from $17.00 to $19.00 and gave the stock a sell rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.40.

Analyst Recommendations for Consolidated Communications Holdings (NASDAQ:CNSL)

Shares of Consolidated Communications Holdings (NASDAQ:CNSL) traded down 0.81% on Monday, reaching $24.54. 67,636 shares of the company’s stock traded hands. The company has a 50 day moving average price of $24.56 and a 200 day moving average price of $25.30. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 82.63 and a beta of 1.09. Consolidated Communications Holdings has a 52 week low of $17.76 and a 52 week high of $28.78.

Consolidated Communications Holdings (NASDAQ:CNSL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Consolidated Communications Holdings had a net margin of 2.01% and a return on equity of 13.91%. The company had revenue of $186.90 million for the quarter, compared to the consensus estimate of $193.77 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities research analysts predict that Consolidated Communications Holdings will post $0.70 earnings per share for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th will be paid a $0.387 dividend. The ex-dividend date is Wednesday, October 12th. Consolidated Communications Holdings’s dividend payout ratio is currently 534.48%.

Several institutional investors have recently made changes to their positions in CNSL. BlackRock Institutional Trust Company N.A. boosted its position in shares of Consolidated Communications Holdings by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,290,756 shares of the company’s stock valued at $33,250,000 after buying an additional 18,405 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Consolidated Communications Holdings during the first quarter valued at about $407,000. BlackRock Group LTD boosted its position in shares of Consolidated Communications Holdings by 6.0% in the first quarter. BlackRock Group LTD now owns 86,313 shares of the company’s stock valued at $2,223,000 after buying an additional 4,872 shares in the last quarter. Lyons Wealth Management LLC. acquired a new position in shares of Consolidated Communications Holdings during the first quarter valued at about $210,000. Finally, Prudential Financial Inc. boosted its position in shares of Consolidated Communications Holdings by 3.2% in the first quarter. Prudential Financial Inc. now owns 121,039 shares of the company’s stock valued at $3,118,000 after buying an additional 3,700 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors.

About Consolidated Communications Holdings

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.

5 Day Chart for NASDAQ:CNSL

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