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

A number of brokerages recently issued reports on CSAL. Zacks Investment Research lowered Communications Sales & Leasing from a “buy” rating to a “sell” rating in a report on Wednesday, May 4th. Citigroup Inc. reiterated a “buy” rating and issued 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $27.90.

The company has a market capitalization of $4.67 billion and a P/E ratio of 155.44. The firm has a 50 day moving average price of $30.37 and a 200-day moving average price of $25.04.

Communications Sales & Leasing (NASDAQ:CSAL) last released 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 business had revenue of $188.60 million for the quarter, compared to analyst estimates of $189.04 million. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities research analysts forecast that Communications Sales & Leasing Inc. will post $2.44 EPS for the current year.

A hedge fund recently bought a new stake in Communications Sales & Leasing stock. Marshall Wace LLP bought a new position in Communications Sales & Leasing Inc. (NASDAQ:CSAL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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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