StockNews.com Initiates Coverage on Consolidated Communications (NASDAQ:CNSL)

Equities research analysts at StockNews.com began coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a research note issued on Tuesday. The firm set a “sell” rating on the utilities provider’s stock.

Consolidated Communications Stock Performance

Shares of CNSL stock opened at $4.32 on Tuesday. The firm has a market capitalization of $511.62 million, a PE ratio of -1.66 and a beta of 1.07. Consolidated Communications has a 52 week low of $2.93 and a 52 week high of $4.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.25. The company has a 50 day moving average price of $4.30 and a 200-day moving average price of $4.31.

Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings data on Tuesday, March 5th. The utilities provider reported ($0.27) earnings per share for the quarter. The business had revenue of $275.18 million during the quarter. Consolidated Communications had a negative return on equity of 16.89% and a negative net margin of 22.53%.

Hedge Funds Weigh In On Consolidated Communications

Large investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new position in Consolidated Communications in the 4th quarter worth $6,871,000. Charles Schwab Investment Management Inc. boosted its stake in Consolidated Communications by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock worth $7,869,000 after purchasing an additional 153,318 shares during the period. Swiss National Bank grew its holdings in Consolidated Communications by 3.0% during the 3rd quarter. Swiss National Bank now owns 166,647 shares of the utilities provider’s stock valued at $570,000 after buying an additional 4,800 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Consolidated Communications by 2.1% during the third quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock valued at $21,442,000 after buying an additional 128,005 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Consolidated Communications in the fourth quarter worth $239,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

About Consolidated Communications

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.