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

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

Consolidated Communications Stock Down 0.2 %

Shares of NASDAQ CNSL opened at $4.28 on Friday. Consolidated Communications has a 12-month low of $2.93 and a 12-month high of $4.65. The stock has a market cap of $496.48 million, a PE ratio of -1.65 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.25. The company has a 50-day moving average of $4.31 and a 200 day moving average of $4.25.

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

Institutional Investors Weigh In On Consolidated Communications

Several institutional investors have recently modified their holdings of CNSL. Ballentine Partners LLC purchased a new stake in Consolidated Communications in the fourth quarter valued at $6,871,000. Hsbc Holdings PLC purchased a new stake in Consolidated Communications in the fourth quarter valued at $2,103,000. Goldman Sachs Group Inc. lifted its position in Consolidated Communications by 188.1% in the second quarter. Goldman Sachs Group Inc. now owns 566,296 shares of the utilities provider’s stock valued at $2,169,000 after acquiring an additional 369,763 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Consolidated Communications in the second quarter valued at $1,352,000. Finally, Highbridge Capital Management LLC purchased a new stake in Consolidated Communications in the fourth quarter valued at $1,343,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Consolidated Communications Company Profile

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.