Communications Sales & Leasing Inc. (CSAL) Coverage Initiated by Analysts at Cowen and Company
Research analysts at Cowen and Company started coverage on shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
A number of other research firms have also commented on CSAL. JPMorgan Chase & Co. began coverage on shares of Communications Sales & Leasing in a report on Monday, September 26th. They set an “overweight” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. Zacks Investment Research lowered shares of Communications Sales & Leasing from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $32.00 price target on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Eight analysts have rated the stock with a buy rating, Communications Sales & Leasing has a consensus rating of “Buy” and a consensus price target of $29.13.
Communications Sales & Leasing (NASDAQ:CSAL) opened at 29.41 on Thursday. The firm’s 50-day moving average is $30.89 and its 200 day moving average is $27.68. The firm has a market capitalization of $4.53 billion, a P/E ratio of 150.82 and a beta of 1.27. Communications Sales & Leasing has a 52-week low of $15.13 and a 52-week high of $32.73.
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Communications Sales & Leasing (NASDAQ:CSAL) last released its earnings results on Thursday, August 11th. The company reported $0.56 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 business had revenue of $188.60 million for the quarter, compared to analyst estimates of $189.04 million. The firm’s revenue was up 46.5% on a year-over-year basis. Equities analysts anticipate that Communications Sales & Leasing will post $2.43 EPS for the current year.
The business 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 $0.60 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 annualized dividend and a yield of 8.16%. Communications Sales & Leasing’s dividend payout ratio is currently 1,714.29%.
Large investors have recently bought and sold shares of the stock. Huntington National Bank bought a new stake in Communications Sales & Leasing during the second quarter valued at approximately $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 in the last quarter. 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 in the last quarter. American National Registered Investment Advisor Inc. bought a new stake in Communications Sales & Leasing during the first quarter valued at approximately $221,000. Finally, Mcmillion Capital Management Inc. bought a new stake in Communications Sales & Leasing during the second quarter valued at approximately $222,000. 57.75% of the stock is currently owned by institutional investors and hedge funds.
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.
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