Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) were up 2.4% during mid-day trading on Monday . The stock traded as high as $30.35 and last traded at $30.20, with a volume of 441,823 shares changing hands. The stock had previously closed at $29.50.

Several analysts recently issued reports on CSAL shares. Zacks Investment Research downgraded Communications Sales & Leasing from a “buy” rating to a “sell” rating in a report on Wednesday, May 4th. Morgan Stanley restated an “overweight” rating on shares of Communications Sales & Leasing in a research note on Sunday, July 24th. Finally, Citigroup Inc. restated a “buy” rating and set a $32.00 target price on shares of Communications Sales & Leasing in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.90.

The company has a 50-day moving average of $30.37 and a 200 day moving average of $25.38. The company has a market cap of $4.71 billion and a price-to-earnings ratio of 156.87.

Communications Sales & Leasing (NASDAQ:CSAL) last issued its earnings results on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.09. The business had revenue of $188.60 million for the quarter, compared to the consensus estimate of $189.04 million. Communications Sales & Leasing’s revenue for the quarter was up 46.5% on a year-over-year basis. Equities analysts forecast that Communications Sales & Leasing Inc. will post $2.44 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Communications Sales & Leasing stock. Marshall Wace LLP bought a new position 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 firm 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.