Consolidated Communications (NASDAQ:CNSL) Shares Up 22.1% Following Earnings Beat
Consolidated Communications Holdings Inc (NASDAQ:CNSL) shares shot up 22.1% on Thursday following a stronger than expected earnings report. The stock traded as high as $7.44 and last traded at $7.41, 2,242,437 shares were traded during trading. An increase of 227% from the average session volume of 685,060 shares. The stock had previously closed at $6.07.
The utilities provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.11. Consolidated Communications had a return on equity of 8.68% and a net margin of 1.80%. The firm had revenue of $325.18 million for the quarter.
Several equities research analysts have weighed in on the company. BidaskClub cut Consolidated Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 11th. TheStreet raised shares of Consolidated Communications from a “d+” rating to a “c” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.50.
The stock has a market cap of $533.19 million, a P/E ratio of 22.12 and a beta of 1.21. The business has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $5.65. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.78 and a current ratio of 0.93.
Consolidated Communications Company Profile (NASDAQ:CNSL)
Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.
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