Brokerages predict that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will report $244.49 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Communications Sales & Leasing,Inc.’s earnings, with the highest sales estimate coming in at $245.69 million and the lowest estimate coming in at $241.60 million. Communications Sales & Leasing,Inc. posted sales of $200.24 million during the same quarter last year, which suggests a positive year over year growth rate of 22.1%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, November 2nd.

According to Zacks, analysts expect that Communications Sales & Leasing,Inc. will report full year sales of $244.49 million for the current fiscal year, with estimates ranging from $914.80 million to $917.35 million. For the next year, analysts anticipate that the company will report sales of $1.01 billion per share, with estimates ranging from $992.20 million to $1.06 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Communications Sales & Leasing,Inc..

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

A number of brokerages have recently issued reports on UNIT. Bank of America Corporation downgraded shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 15th. Cowen and Company reiterated a “buy” rating and set a $33.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Friday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $24.00 target price (down previously from $34.00) on shares of Communications Sales & Leasing,Inc. in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Communications Sales & Leasing,Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Citigroup Inc. dropped their target price on shares of Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.44.

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

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. bought a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $339,519,000. BlackRock Inc. bought a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $298,032,000. State Street Corp bought a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $91,615,000. FMR LLC bought a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $32,036,000. Finally, Renaissance Technologies LLC bought a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $31,126,000. Institutional investors and hedge funds own 68.23% of the company’s stock.

Communications Sales & Leasing,Inc. (UNIT) traded up 0.13% during midday trading on Wednesday, reaching $15.75. 856,331 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $17.02 and its 200 day moving average price is $22.91. The firm’s market cap is $2.76 billion. Communications Sales & Leasing,Inc. has a 1-year low of $13.81 and a 1-year high of $30.66.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.26%. Communications Sales & Leasing,Inc.’s payout ratio is presently -750.00%.

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

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