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 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 subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Communications Sales & Leasing from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, July 12th. Citigroup Inc. reiterated a “buy” rating and set a $32.00 target price on shares of Communications Sales & Leasing in a research report on Tuesday, July 5th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Communications Sales & Leasing in a research report on Sunday, July 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $27.90.
The firm’s 50 day moving average is $30.46 and its 200-day moving average is $25.51. The company has a market capitalization of $4.91 billion and a PE ratio of 163.59.
Communications Sales & Leasing (NASDAQ:CSAL) last announced its earnings results on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.09. The firm had revenue of $188.60 million for the quarter, compared to the consensus estimate of $189.04 million. Communications Sales & Leasing’s revenue was up 46.5% on a year-over-year basis. On average, equities analysts forecast that Communications Sales & Leasing Inc. will post $2.44 earnings per share for the current fiscal 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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