Macquarie Group Ltd. grew its holdings in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 85.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,200 shares of the utilities provider’s stock after purchasing an additional 4,700 shares during the quarter. Macquarie Group Ltd.’s holdings in Consolidated Communications were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Consolidated Communications in the second quarter valued at approximately $126,000. Hsbc Holdings PLC bought a new stake in shares of Consolidated Communications in the first quarter valued at approximately $119,000. S. Muoio & CO. LLC bought a new stake in shares of Consolidated Communications in the second quarter valued at approximately $135,000. Profund Advisors LLC bought a new stake in shares of Consolidated Communications in the first quarter valued at approximately $122,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Consolidated Communications in the second quarter valued at approximately $170,000. 71.34% of the stock is owned by institutional investors.
Shares of NASDAQ CNSL opened at $11.62 on Friday. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $929.13 million, a P/E ratio of 44.69 and a beta of 0.70. Consolidated Communications Holdings Inc has a one year low of $10.31 and a one year high of $20.01.
Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Thursday, August 2nd. The utilities provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $350.22 million during the quarter, compared to analyst estimates of $351.29 million. Consolidated Communications had a net margin of 3.47% and a negative return on equity of 3.15%. Equities analysts anticipate that Consolidated Communications Holdings Inc will post -0.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 15th will be paid a $0.387 dividend. The ex-dividend date is Friday, October 12th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 13.32%. Consolidated Communications’s payout ratio is 596.15%.
A number of research analysts recently commented on CNSL shares. BidaskClub upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Zacks Investment Research upgraded Consolidated Communications from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.50.
Consolidated Communications Profile
Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.
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