Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.94 and last traded at $30.94, with a volume of 822,934 shares changing hands. The stock had previously closed at $30.31.

Several analysts recently issued reports on CSAL shares. Zacks Investment Research lowered shares of Communications Sales & Leasing from a “buy” rating to a “sell” rating in a report on Wednesday, May 4th. Citigroup Inc. reiterated a “buy” rating and set a $32.00 price target on shares of Communications Sales & Leasing in a research note on Tuesday, July 5th. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $27.90.

The company has a 50-day moving average price of $28.11 and a 200 day moving average price of $22.83. The company has a market capitalization of $4.69 billion and a price-to-earnings ratio of 113.71.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend was Tuesday, June 28th.

A number of hedge funds have modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Communications Sales & Leasing during the fourth quarter worth about $1,032,000. Wellington Shields Capital Management LLC raised its stake in shares of 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 worth $1,131,000 after buying an additional 21,239 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Communications Sales & Leasing by 13.1% in the fourth quarter. ProShare Advisors LLC now owns 61,803 shares of the company’s stock worth $1,155,000 after buying an additional 7,167 shares during the last quarter. SECOR Capital Advisors LP raised its stake in shares of Communications Sales & Leasing by 23.0% in the fourth quarter. SECOR Capital Advisors LP now owns 63,137 shares of the company’s stock worth $1,180,000 after buying an additional 11,823 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake 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 worth $1,327,000 after buying an additional 3,500 shares during the last quarter.

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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