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

StockNews.com initiated coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a report issued on Wednesday. The brokerage set a “sell” rating on the utilities provider’s stock.

Consolidated Communications Stock Up 0.2 %

Shares of CNSL opened at $4.40 on Wednesday. The company has a 50-day simple moving average of $4.35 and a 200-day simple moving average of $4.35. The firm has a market capitalization of $521.09 million, a P/E ratio of -1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 6.09, a quick ratio of 0.93 and a current ratio of 0.93. Consolidated Communications has a 52 week low of $2.93 and a 52 week high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%. The business had revenue of $274.68 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC acquired a new position in Consolidated Communications in the fourth quarter worth about $47,000. Innealta Capital LLC acquired a new position in Consolidated Communications in the first quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Consolidated Communications by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 4,803 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Consolidated Communications by 22.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,922 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 3,243 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Consolidated Communications during the first quarter worth about $83,000. Institutional investors and hedge funds 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.