Zacks Investment Research Upgrades Communications Sales & Leasing Inc. (CSAL) to “Buy”
Communications Sales & Leasing Inc. (NASDAQ:CSAL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $33.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 13.60% from the company’s previous close.
According to Zacks, “Communications Sales & Leasing, Inc. is a real estate investment trust primarily engaged in the acquisition and leasing of communication distribution systems. Communications Sales & Leasing, Inc. is headquartered in Little Rock, Ark. “
A number of other research firms have also recently issued reports on CSAL. JPMorgan Chase & Co. assumed coverage on Communications Sales & Leasing in a report on Monday, September 26th. They issued an “overweight” rating for the company. 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 issued a $32.00 price objective on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Seven equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $29.13.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/zacks-investment-research-upgrades-communications-sales-leasing-inc-csal-to-buy.html
Shares of Communications Sales & Leasing (NASDAQ:CSAL) traded down 1.86% during midday trading on Tuesday, reaching $29.05. The company’s stock had a trading volume of 940,272 shares. The company’s 50-day moving average price is $30.87 and its 200 day moving average price is $27.67. The company has a market capitalization of $4.47 billion, a P/E ratio of 148.97 and a beta of 1.27. Communications Sales & Leasing has a 12-month low of $15.13 and a 12-month high of $32.73.
Communications Sales & Leasing (NASDAQ:CSAL) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.09. Communications Sales & Leasing had a negative return on equity of 1.89% and a net margin of 3.25%. The firm earned $188.60 million during the quarter, compared to analysts’ expectations of $189.04 million. The company’s quarterly revenue was up 46.5% on a year-over-year basis. On average, equities research analysts forecast that Communications Sales & Leasing will post $2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Wednesday, September 28th. Communications Sales & Leasing’s dividend payout ratio is presently 1,714.29%.
Large investors have recently modified their holdings of the stock. Huntington National Bank bought a new stake in shares of Communications Sales & Leasing during the second quarter valued at $124,000. Sei Investments Co. boosted its stake in Communications Sales & Leasing by 38.2% in the second quarter. Sei Investments Co. now owns 4,857 shares of the company’s stock valued at $141,000 after buying an additional 1,343 shares during the period. Creative Planning boosted its stake in Communications Sales & Leasing by 11.4% in the second quarter. Creative Planning now owns 7,221 shares of the company’s stock valued at $209,000 after buying an additional 737 shares during the period. Mcmillion Capital Management Inc. acquired a new stake in Communications Sales & Leasing during the second quarter valued at $222,000. Finally, LS Investment Advisors LLC boosted its stake in Communications Sales & Leasing by 79.8% in the second quarter. LS Investment Advisors LLC now owns 7,853 shares of the company’s stock valued at $227,000 after buying an additional 3,485 shares during the period. Institutional investors own 57.75% of the company’s stock.
About Communications Sales & Leasing
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Communications Sales & Leasing Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Communications Sales & Leasing Inc. and related companies with MarketBeat.com's FREE daily email newsletter.