A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Communications Sales & Leasing from a buy rating to a hold rating in a report on Monday, August 15th. Morgan Stanley reiterated an overweight rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. Finally, Citigroup Inc. reiterated a buy rating and set a $32.00 price target on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $27.90.
Communications Sales & Leasing (NASDAQ:CSAL) opened at 31.92 on Monday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 163.69 and a beta of 1.28. Communications Sales & Leasing has a one year low of $15.13 and a one year high of $32.73. The company’s 50-day moving average price is $30.83 and its 200-day moving average price is $27.13.
Communications Sales & Leasing (NASDAQ:CSAL) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.09. Communications Sales & Leasing had a net margin of 3.25% and a negative return on equity of 1.89%. The business had revenue of $188.60 million for the quarter, compared to analysts’ expectations of $189.04 million. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, analysts anticipate that Communications Sales & Leasing will post $2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 7.52%. Communications Sales & Leasing’s payout ratio is 1,714.29%.
A number of hedge funds have recently added to or reduced their stakes in CSAL. Huntington National Bank purchased a new stake in Communications Sales & Leasing during the second quarter worth about $124,000. Sei Investments Co. boosted its stake in shares of Communications Sales & Leasing by 38.2% in the second quarter. Sei Investments Co. now owns 4,857 shares of the company’s stock worth $141,000 after buying an additional 1,343 shares in the last quarter. Creative Planning boosted its stake in shares of Communications Sales & Leasing by 11.4% in the second quarter. Creative Planning now owns 7,221 shares of the company’s stock worth $209,000 after buying an additional 737 shares in the last quarter. Mcmillion Capital Management Inc. bought a new stake in shares of Communications Sales & Leasing during the second quarter worth $222,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Communications Sales & Leasing by 79.8% in the second quarter. LS Investment Advisors LLC now owns 7,853 shares of the company’s stock worth $227,000 after buying an additional 3,485 shares in the last quarter. 57.75% of the stock is owned by hedge funds and other institutional investors.
Communications Sales & Leasing Company Profile
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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