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 note issued to investors on Monday. The brokerage set a “sell” rating on the utilities provider’s stock.

Consolidated Communications Stock Performance

Shares of CNSL stock opened at $4.32 on Monday. The firm’s 50 day moving average price is $4.32 and its 200-day moving average price is $4.35. 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 one year low of $2.93 and a one year high of $4.65. The firm has a market cap of $511.62 million, a P/E ratio of -1.67 and a beta of 1.07.

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

Institutional Investors Weigh In On Consolidated Communications

A number of hedge funds have recently added to or reduced their stakes in CNSL. Kingswood Wealth Advisors LLC acquired a new stake in Consolidated Communications during the 4th quarter worth approximately $47,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Consolidated Communications during the 3rd quarter worth approximately $50,000. Innealta Capital LLC acquired a new stake in Consolidated Communications during the 1st quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Consolidated Communications by 39.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider’s stock worth $74,000 after buying an additional 4,803 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Consolidated Communications during the 1st quarter worth approximately $83,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

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.