Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.24 and last traded at $31.20, with a volume of 2,458,135 shares. The stock had previously closed at $30.64.

CSAL has been the topic of several analyst reports. Zacks Investment Research cut Communications Sales & Leasing from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Citigroup Inc. restated a “buy” rating and issued a $32.00 target price on shares of Communications Sales & Leasing in a research report on Tuesday, July 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Communications Sales & Leasing in a research report on Sunday, July 24th. One equities 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 a consensus rating of “Buy” and a consensus target price of $27.90.

The stock’s 50-day moving average is $30.39 and its 200 day moving average is $25.43. The stock has a market cap of $4.80 billion and a P/E ratio of 160.00.

Communications Sales & Leasing (NASDAQ:CSAL) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.09. The business earned $188.60 million during the quarter, compared to analysts’ expectations of $189.04 million. The business’s quarterly revenue was up 46.5% on a year-over-year basis. On average, equities analysts predict that Communications Sales & Leasing Inc. will post $2.44 earnings per share for the current year.

A hedge fund recently bought a new stake in Communications Sales & Leasing stock. Marshall Wace LLP bought a new stake in shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,200 shares of the company’s stock, valued at approximately $1,032,000.

Communications Sales & Leasing, Inc (CS&L) is an internally managed real estate investment trust (REIT) engaged in the acquisition and construction of a range of infrastructure in the communications industry. The Company is focused on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

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