Consolidated Communications closed at $5.30 in the latest trading session, marking a +0.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.23%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq lost 0.08%.
Heading into today, shares of the telecommunications company had gained 19.23% over the past month, outpacing the Utilities sector's gain of 7.18% and the S&P 500's gain of 3.84% in that time.
Wall Street will be looking for positivity from CNSL as it approaches its next earnings report date. On that day, CNSL is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $333 million, down 4.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $1.34 billion, which would represent changes of +47.22% and -4.39%, respectively, from the prior year.
Any recent changes to analyst estimates for CNSL should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.84% higher. CNSL currently has a Zacks Rank of #1 (Strong Buy).
The Wireless - Regional - Rural industry is part of the Utilities sector. This group has a Zacks Industry Rank of 4, putting 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.