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

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

Consolidated Communications Stock Performance

CNSL opened at $4.35 on Tuesday. Consolidated Communications has a twelve month low of $2.93 and a twelve month high of $4.65. The company has a 50-day simple moving average of $4.33 and a 200 day simple moving average of $4.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 6.09. The stock has a market capitalization of $515.17 million, a price-to-earnings ratio of -1.68 and a beta of 1.07.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNSL. Ballentine Partners LLC acquired a new position in shares of Consolidated Communications in the fourth quarter valued at approximately $6,871,000. Hsbc Holdings PLC acquired a new position in shares of Consolidated Communications in the fourth quarter valued at approximately $2,103,000. Charles Schwab Investment Management Inc. increased its stake in shares of Consolidated Communications by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock valued at $7,869,000 after buying an additional 153,318 shares during the period. Swiss National Bank increased its stake in shares of Consolidated Communications by 3.0% in the third 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 during the period. Finally, PenderFund Capital Management Ltd. acquired a new stake in Consolidated Communications during the 4th quarter valued at approximately $388,000. 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.