CNSL - Consolidated Communications adds to slide with double-digit price decline

Consolidated Communications (NASDAQ:CNSL) slid 10% Friday to a new 52-week low, adding fuel to a decline that started Thursday after its fourth-quarter earnings showed a slight decline in revenues. The stock ended up tumbling 21.5% Thursday, bringing its two-day drop to just under 30%. Citi responded to the report by cutting Consolidated to Sell, calling it a "mixed" quarter and noting that full-year EBITDA guidance was significantly below expectations. (The company guided for EBITDA of $410 million-$425 million, with capital expenditures forecast at $475 million-$495 million for the year.) Wells Fargo downgraded it to Equal Weight, from Overweight, setting its price target at $6/share. Cowen, meanwhile, cut its price target to $5.50 from $7.50, vs. Friday's $5.20 price. For more details, dig into Consolidated's earnings call transcript.

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Consolidated Communications adds to slide with double-digit price decline