Wells Fargo & Co downgraded shares of Consolidated Communications (NASDAQ:CNSL) from an outperform rating to a market perform rating in a report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has $11.25 price target on the utilities provider’s stock, down from their prior price target of $13.50.

CNSL has been the subject of a number of other reports. BidaskClub raised shares of Consolidated Communications from a hold rating to a buy rating in a research note on Thursday, September 13th. ValuEngine raised shares of Consolidated Communications from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Consolidated Communications from a buy rating to a hold rating in a research note on Thursday, January 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $13.06.

NASDAQ CNSL traded up $0.03 on Tuesday, reaching $11.25. The company’s stock had a trading volume of 14,111 shares, compared to its average volume of 1,016,542. Consolidated Communications has a twelve month low of $8.51 and a twelve month high of $14.23. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 4.71. The company has a market capitalization of $798.01 million, a price-to-earnings ratio of 43.54 and a beta of 0.97.

Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. Consolidated Communications had a net margin of 4.46% and a negative return on equity of 4.56%. The company had revenue of $348.06 million during the quarter, compared to the consensus estimate of $345.10 million. Consolidated Communications’s revenue was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Consolidated Communications will post -0.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be given a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 13.76%. The ex-dividend date of this dividend is Monday, January 14th. Consolidated Communications’s dividend payout ratio (DPR) is 596.15%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Consolidated Communications by 8.0% in the third quarter. BlackRock Inc. now owns 11,029,285 shares of the utilities provider’s stock worth $143,823,000 after purchasing an additional 813,801 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Consolidated Communications by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,641,474 shares of the utilities provider’s stock worth $99,645,000 after purchasing an additional 44,238 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Consolidated Communications by 0.6% in the third quarter. Vanguard Group Inc now owns 7,641,474 shares of the utilities provider’s stock worth $99,645,000 after purchasing an additional 44,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Consolidated Communications by 8.3% in the third quarter. Dimensional Fund Advisors LP now owns 4,111,064 shares of the utilities provider’s stock worth $53,608,000 after purchasing an additional 314,701 shares in the last quarter. Finally, Private Management Group Inc. lifted its position in shares of Consolidated Communications by 14.2% in the second quarter. Private Management Group Inc. now owns 2,633,358 shares of the utilities provider’s stock worth $32,548,000 after purchasing an additional 326,751 shares in the last quarter. 71.48% of the stock is owned by institutional investors and hedge funds.

Consolidated Communications Company Profile

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.

Further Reading: Quiet Period

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