Consolidated Communications Holdings Inc (CNSL) is Downgraded by Drexel Hamilton to Hold

Consolidated Communications Holdings Inc (CNSL) was Downgraded by Drexel Hamilton to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Drexel Hamilton advised their investors in a research report released on Jun 27, 2016.

Many Wall Street Analysts have commented on Consolidated Communications Holdings Inc. DA Davidson Downgraded Consolidated Communications Holdings Inc on Apr 4, 2016 to ” Underperform”, Price Target of the shares are set at $22.

On the company’s financial health, Consolidated Communications Holdings Inc reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.16. The company had revenue of $188.80 million for the quarter, compared to analysts expectations of $189.08 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

Consolidated Communications Holdings Inc closed down -0.65 points or -2.43% at $26.07 with 3,62,794 shares getting traded on Friday. Post opening the session at $26, the shares hit an intraday low of $25.62 and an intraday high of $26.21 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on May 2, 2016, Consolidated Communications Holdings Inc announced a cash dividend of $0.3874. The company’s management has announced Jul 13, 2016 as the ex-dividend date and fixed the record date on Jul 15, 2016. The payable date has been fixed on Aug 1, 2016.

In a different news, on May 16, 2016, Robert J Currey (director) sold 10,000 shares at $25.75 per share price. According to the SEC, on Mar 8, 2016, Dale E Parker (director) purchased 1,200 shares at $24.28 per share price. On Mar 3, 2016, C Robert Jr Udell (President & CEO) sold 14,000 shares at $23.16 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).

Consolidated Communications Holdings Inc

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