CNSL - Consolidated Communications: All Eyes On The Top-Line

• Consolidated Communications has been trading much lower since the dividend was suspended in H1 2019.
• The money for the dividend was used to improve the debt profile. Leverage was reduced from 4.41 in Q2 2019 to below 4. Other metrics have also gradually improved.
• The slowly declining revenue has persisted until recently. It has been shrinking in each quarter since Q1 2019 until there was a slight increase in Q3 2020.
• The Q4 2020 earnings report is expected on February 25. Concerns about declining revenue can diminish if the company manages to show a QoQ increasing top-line for a second time.

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