Communications Sales & Leasing Inc. (NASDAQ:CSAL) reached a new 52-week high during mid-day trading on Monday . The stock 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 subject of several recent analyst reports. Zacks Investment Research cut shares of Communications Sales & Leasing from a “buy” rating to a “sell” rating in a research report on Wednesday, May 4th. Citigroup Inc. reaffirmed a “buy” rating and set a $32.00 price objective on shares of Communications Sales & Leasing in a research report on Tuesday, July 5th. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $27.90.

The company has a 50 day moving average of $27.34 and a 200 day moving average of $22.43. The company has a market cap of $4.62 billion and a PE ratio of 112.06.

Communications Sales & Leasing (NASDAQ:CSAL) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by $0.02. The company had revenue of $174.70 million for the quarter, compared to analysts’ expectations of $174.39 million. Equities research analysts predict that Communications Sales & Leasing Inc. will post $2.60 earnings per share for the current fiscal year.

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

A number of institutional investors recently modified their holdings of CSAL. Rhumbline Advisers raised its position in shares of Communications Sales & Leasing by 0.3% in the fourth quarter. Rhumbline Advisers now owns 182,703 shares of the company’s stock valued at $3,415,000 after buying an additional 536 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Communications Sales & Leasing by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 81,260 shares of the company’s stock valued at $1,519,000 after buying an additional 1,336 shares during the period. Retirement Systems of Alabama raised its position in shares of Communications Sales & Leasing by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 154,758 shares of the company’s stock valued at $2,892,000 after buying an additional 2,008 shares during the period. Gabelli Funds LLC raised its position in shares of 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. Finally, California State Teachers Retirement System raised its position in shares of Communications Sales & Leasing by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 230,635 shares of the company’s stock valued at $4,311,000 after buying an additional 3,574 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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