Communications Sales & Leasing Inc. (CSAL) Trading Up 2.4%
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.
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