Is there something that has been reported recently that would cause such a decline? I can't find anything. It is puzzling that comments are rarely made about this stock in the message board while a similar stock (Frontier Communications) is flooded with comments. Perhaps, Frontier's being such a dog has made it popular??? Hopefully, this stock will not follow a similar fate. I got out of that dog long ago. Hope I don't have to dump this one, the dividends and price action have been good to me over the years.
I can't find much to make it drop. But, it appears maybe the tyerm of the notes may not have gone over real well with an instutional lond. 11% effective yield does seem to be pricy in this low interest environment. Just a guess though.
besides having to pay 11% for SureWest acquisition bonds, CNSL is being lumped in the falling knife category of FTR and WIN. I don't know how CTL gets a pass, now that it bot Quest the old Bell co. I guess it is respectable. cable coming into Wifi big time, banding together to offer bundles and w wifi they can compete w VZ, T; nibble customers from these smaller companies too. CNSL has some niches and local respect and loyalty, but paying 11% for SureWest bonds seems like a get bigger or die or get gobbled strategy. SHEN another one on the radar.
the bonds in most cases put more constraints on what div's can be paid out, not sure on these new bonds, but it can't be good.
i think we could see $15 if overall market turns down again.