Communications Sales & Leasing Inc. (NASDAQ:CSAL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $30.58 and last traded at $30.36, with a volume of 532,640 shares traded. The stock had previously closed at $30.50.

CSAL has been the topic of a number of recent research reports. Citigroup Inc. reiterated a “buy” rating and issued a $32.00 target price on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Zacks Investment Research cut Communications Sales & Leasing from a “buy” rating to a “sell” rating in a report on Wednesday, May 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $26.30.

The company has a market cap of $4.62 billion and a price-to-earnings ratio of 112.13. The firm’s 50-day moving average is $26.96 and its 200 day moving average is $22.25.

Communications Sales & Leasing (NASDAQ:CSAL) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.02. The business earned $174.70 million during the quarter, compared to analyst estimates of $174.39 million. On average, equities analysts anticipate that Communications Sales & Leasing Inc. will post $2.60 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 7.87%.

Other institutional investors have bought and sold shares of the company. Marshall Wace LLP acquired a new position in Communications Sales & Leasing during the fourth quarter valued at about $1,032,000. Wellington Shields Capital Management LLC boosted its position in Communications Sales & Leasing by 54.1% in the fourth quarter. Wellington Shields Capital Management LLC now owns 60,489 shares of the company’s stock valued at $1,131,000 after buying an additional 21,239 shares during the period. ProShare Advisors LLC boosted its position in Communications Sales & Leasing by 13.1% in the fourth quarter. ProShare Advisors LLC now owns 61,803 shares of the company’s stock valued at $1,155,000 after buying an additional 7,167 shares during the period. SECOR Capital Advisors LP boosted its position in Communications Sales & Leasing by 23.0% in the fourth quarter. SECOR Capital Advisors LP now owns 63,137 shares of the company’s stock valued at $1,180,000 after buying an additional 11,823 shares during the period. Finally, Gabelli Funds LLC boosted its position in Communications Sales & Leasing by 5.2% in the fourth quarter. Gabelli Funds LLC now owns 71,000 shares of the company’s stock valued at $1,327,000 after buying an additional 3,500 shares during the period.

Communications Sales & Leasing, Inc (CS&L) is engaged in the ownership, acquisition and leasing of communication distribution systems. The Company holds the fiber and copper networks and other real estate (the Distribution Systems) and a small consumer competitive local exchange carrier (CLEC) business (the Consumer CLEC Business).

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