Communications Sales & Leasing Inc. (NASDAQ:CSAL) issued an update on its FY16 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.48-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.42.

Communications Sales & Leasing Inc. (NASDAQ:CSAL) opened at 24.34 on Tuesday. Communications Sales & Leasing Inc. has a 12-month low of $15.13 and a 12-month high of $32.73. The firm has a 50-day moving average price of $29.06 and a 200-day moving average price of $28.60.

Communications Sales & Leasing (NASDAQ:CSAL) last issued its earnings results on Monday, November 14th. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $200.20 million for the quarter, compared to the consensus estimate of $198.62 million. Communications Sales & Leasing had a net margin of 3.25% and a negative return on equity of 1.89%. The firm’s revenue was up 15.3% on a year-over-year basis. Analysts anticipate that Communications Sales & Leasing Inc. will post $2.42 earnings per share for the current fiscal year.

Earnings History and Estimates for Communications Sales & Leasing (NASDAQ:CSAL)

A number of equities research analysts have weighed in on CSAL shares. Zacks Investment Research raised Communications Sales & Leasing from a strong sell rating to a buy rating and set a $33.00 target price for the company in a research report on Tuesday, October 11th. Cowen and Company initiated coverage on Communications Sales & Leasing in a report on Thursday, October 13th. They issued an outperform rating and a $34.00 price target on the stock. Raymond James Financial Inc. upgraded Communications Sales & Leasing from an outperform rating to a strong-buy rating and set a $35.00 price target on the stock in a report on Wednesday, November 2nd. JPMorgan Chase & Co. initiated coverage on Communications Sales & Leasing in a report on Monday, September 26th. They issued an overweight rating on the stock. Finally, Morgan Stanley reiterated an overweight rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $32.80.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSAL. Clinton Group Inc. acquired a new position in shares of Communications Sales & Leasing during the third quarter valued at $423,000. The Manufacturers Life Insurance Company acquired a new position in shares of Communications Sales & Leasing during the third quarter valued at $5,865,000. UBS Group AG increased its position in shares of Communications Sales & Leasing by 2.5% in the third quarter. UBS Group AG now owns 86,028 shares of the company’s stock valued at $2,702,000 after buying an additional 2,068 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Communications Sales & Leasing by 86.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,245 shares of the company’s stock valued at $165,000 after buying an additional 2,439 shares during the period. Finally, Morgan Stanley increased its position in shares of Communications Sales & Leasing by 89.9% in the third quarter. Morgan Stanley now owns 554,202 shares of the company’s stock valued at $17,407,000 after buying an additional 262,362 shares during the period. Hedge funds and other institutional investors own 59.13% of the company’s stock.

Communications Sales & Leasing Company Profile

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.

5 Day Chart for NASDAQ:CSAL

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