Communications Sales & Leasing Inc. (NASDAQ:CSAL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.08 and last traded at $32.03, with a volume of 450,706 shares changing hands. The stock had previously closed at $31.90.

CSAL has been the subject of several research reports. Zacks Investment Research upgraded Communications Sales & Leasing from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, July 12th. Citigroup reiterated a “buy” rating and set a $32.00 price target on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Communications Sales & Leasing currently has a consensus rating of “Buy” and an average price target of $27.90.

The firm’s 50-day moving average price is $30.46 and its 200 day moving average price is $25.71. The company has a market cap of $4.92 billion and a price-to-earnings ratio of 163.90.

Communications Sales & Leasing (NASDAQ:CSAL) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.09. The company earned $188.60 million during the quarter, compared to analyst estimates of $189.04 million. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. On average, analysts predict that Communications Sales & Leasing Inc. will post $2.43 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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