Wall Street brokerages forecast that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will announce earnings per share (EPS) of $0.50 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. posted earnings of $0.56 per share during the same quarter last year, which would indicate a negative year over year growth rate of 10.7%. The business is expected to report its next earnings results after the market closes on Thursday, August 3rd.

According to Zacks, analysts expect that Communications Sales & Leasing,Inc. will report full-year earnings of $2.08 per share for the current financial year, with EPS estimates ranging from $2.07 to $2.09. For the next financial year, analysts anticipate that the firm will report earnings of $2.36 per share, with EPS estimates ranging from $2.31 to $2.40. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Communications Sales & Leasing,Inc..

Several brokerages have recently weighed in on UNIT. Zacks Investment Research upgraded Communications Sales & Leasing,Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 6th. ValuEngine lowered Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Royal Bank Of Canada assumed coverage on Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Deutsche Bank AG boosted their price objective on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.33.

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In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman acquired 14,500 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $24.15 per share, with a total value of $350,175.00. Following the completion of the acquisition, the insider now owns 262,053 shares of the company’s stock, valued at $6,328,579.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $236,000. Bollard Group LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $259,000. Nisa Investment Advisors LLC purchased a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $230,000. Orinda Asset Management LLC purchased a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $3,415,000. Finally, Duff & Phelps Investment Management Co. purchased a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $49,618,000. 50.72% of the stock is owned by institutional investors.

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded up 3.88% during midday trading on Tuesday, reaching $25.16. 1,059,865 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $25.57 and a 200 day moving average price of $26.23. The company’s market cap is $4.41 billion. Communications Sales & Leasing,Inc. has a 12 month low of $22.50 and a 12 month high of $32.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 9.54%. The ex-dividend date of this dividend is Wednesday, June 28th. Communications Sales & Leasing,Inc.’s payout ratio is -1,043.43%.

About Communications Sales & Leasing,Inc.

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

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