Wall Street brokerages predict that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will post $0.64 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. posted earnings of ($0.03) per share in the same quarter last year, which indicates a positive year over year growth rate of 2,233.3%. The firm is expected to announce its next earnings report on Monday, November 13th.

On average, analysts expect that Communications Sales & Leasing,Inc. will report full year earnings of $2.54 per share for the current fiscal year, with EPS estimates ranging from $2.53 to $2.54. For the next year, analysts anticipate that the company will report earnings of $2.73 per share, with EPS estimates ranging from $2.63 to $2.83. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Communications Sales & Leasing,Inc..

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $213.01 million for the quarter, compared to analyst estimates of $214.09 million. During the same quarter last year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis.

Several analysts recently weighed in on UNIT shares. ValuEngine downgraded shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Deutsche Bank AG started coverage on shares of Communications Sales & Leasing,Inc. in a research report on Monday, May 22nd. They issued a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research downgraded shares of Communications Sales & Leasing,Inc. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. Cowen and Company reiterated a “buy” rating and issued a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $31.00 price objective on shares of Communications Sales & Leasing,Inc. in a research report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.44.

Shares of Communications Sales & Leasing,Inc. (UNIT) traded down 0.80% on Friday, hitting $18.66. 2,604,854 shares of the stock were exchanged. The firm’s market cap is $3.27 billion. Communications Sales & Leasing,Inc. has a one year low of $18.14 and a one year high of $32.73. The firm’s 50 day moving average price is $21.64 and its 200 day moving average price is $24.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.86%. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is -750.00%.

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In related news, EVP Daniel L. Heard purchased 5,400 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $18.54 per share, for a total transaction of $100,116.00. Following the transaction, the executive vice president now owns 40,793 shares of the company’s stock, valued at $756,302.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenny Gunderman purchased 2,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were bought at an average price of $19.48 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the insider now directly owns 266,553 shares in the company, valued at approximately $5,192,452.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,700 shares of company stock worth $297,116 over the last 90 days. 0.39% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new stake in shares of Communications Sales & Leasing,Inc. during the 1st quarter worth about $339,519,000. BlackRock Inc. bought a new stake in shares of Communications Sales & Leasing,Inc. during the 1st quarter worth about $298,032,000. State Street Corp bought a new stake in shares of Communications Sales & Leasing,Inc. during the 1st quarter worth about $91,615,000. Ameriprise Financial Inc. bought a new stake in shares of Communications Sales & Leasing,Inc. during the 1st quarter worth about $53,870,000. Finally, OppenheimerFunds Inc. bought a new stake in shares of Communications Sales & Leasing,Inc. during the 1st quarter worth about $42,809,000. Institutional investors own 68.20% of the company’s stock.

Communications Sales & Leasing,Inc. Company Profile

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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Earnings History and Estimates for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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