Communications Sales & Leasing Inc. (CSAL) Sees Strong Trading Volume
Communications Sales & Leasing Inc. (NASDAQ:CSAL) shares saw unusually-high trading volume on Thursday . Approximately 1,776,650 shares were traded during mid-day trading, an increase of 87% from the previous session’s volume of 950,944 shares.The stock last traded at $31.35 and had previously closed at $31.20.
CSAL has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. Zacks Investment Research lowered Communications Sales & Leasing from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, Citigroup Inc. reissued a “buy” rating and set a $32.00 target price on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.90.
The company has a market cap of $4.82 billion and a P/E ratio of 160.67. The stock has a 50 day moving average of $30.39 and a 200-day moving average of $25.43.
Communications Sales & Leasing (NASDAQ:CSAL) last posted its earnings results on Thursday, August 11th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.09. The firm earned $188.60 million during the quarter, compared to the consensus estimate of $189.04 million. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, equities research analysts anticipate that Communications Sales & Leasing Inc. will post $2.44 earnings per share for the current year.
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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