Consolidated Communications (CNSL) Stock Sinks As Market Gains: What You Should Know
Consolidated Communications (CNSL) closed the most recent trading day at $4.73, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.74% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 1.11%.
Heading into today, shares of the telecommunications company had lost 3.06% over the past month, lagging the Utilities sector's loss of 1% and the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from CNSL as it approaches its next earnings release, which is expected to be August 1, 2019. The company is expected to report EPS of -$0.07, up 30% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $333 million, down 4.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $1.34 billion. These totals would mark changes of +47.22% and -4.39%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CNSL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.84% higher. CNSL is holding a Zacks Rank of #1 (Strong Buy) right now.
The Wireless - Regional - Rural industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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