Raymond James Downgrades Consolidated Communications Holdings Inc to Underperform

Brokerage firm Raymond James Downgrades its rating on Consolidated Communications Holdings Inc(NASDAQ:CNSL). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Raymond James was issued on Aug 5, 2016.

In a different note, On Jun 27, 2016, Drexel Hamilton said it Downgrades its rating on Consolidated Communications Holdings Inc. The shares have been rated ‘Hold’ by the firm. On May 13, 2016, Jefferies said it Maintains its rating on Consolidated Communications Holdings Inc. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Hold’ by the firm.

Consolidated Communications Holdings Inc (CNSL) remained unchanged at the close of Wednesday session. Even as the volume increased to 2,28,649 ,the shares failed to make any impression and ended at 0 points or 0.00% at $24.3. The trading session commenced at $24.22 and the stock hit a high of $24.385 and touched $23.95 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $28.78 and the 52-week low is $17.76. The company has a market cap of $1,231 M and has approximately 5,06,54,989 outstanding shares.

Consolidated Communications Holdings Inc has also declared a cash dividend of $0.3874 on Aug 1, 2016. The shares will quote ex-dividend on Oct 12, 2016 and the record date has been fixed on Oct 14, 2016. The dividend payable date has been fixed on Nov 1, 2016.

Consolidated Communications Holdings Inc(CNSL) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $186.87M. Analysts had an estimated revenue of $193.77M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.18.

Several Insider Transactions has been reported to the SEC. On Jul 13, 2016, Steven L Childers (Chief Financial Officer) sold 10,000 shares at $28.20 per share price.Also, On May 16, 2016, Robert J Currey (director) sold 10,000 shares at $25.75 per share price.On Mar 8, 2016, Dale E Parker (director) purchased 1,200 shares at $24.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Consolidated Communications Holdings Inc. (Consolidated) is a holding company with operating subsidiaries that provide a range of communications services in consumer commercial and carrier channels. The Company offers local calling services; network access services; video data and Internet services; long-distance services and other services. The Company’s local calling services include traditional wireline telephone service and other basic services. It offers network access services such as interstate and intrastate switched access and network special access services. The Company offers video data and Internet services to residential and business customers. The Company offers long-distance services such as traditional domestic and international long distance services. Its other services include telephone directory publishing wholesale transport services billing and collection services inside wiring service and maintenance and equipment sales (Business Systems).

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