Communications Sales & Leasing Inc. (NASDAQ:CSAL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.

According to Zacks, “Communications Sales & Leasing, Inc. is a real estate investment trust primarily engaged in the acquisition and leasing of communication distribution systems. Communications Sales & Leasing, Inc. is headquartered in Little Rock, Ark. “

Several other brokerages also recently issued reports on CSAL. JPMorgan Chase & Co. assumed coverage on shares of Communications Sales & Leasing in a research note on Monday, September 26th. They set an “overweight” rating on the stock. Morgan Stanley reissued an “overweight” rating on shares of Communications Sales & Leasing in a research note on Sunday, July 24th. Cowen and Company assumed coverage on shares of Communications Sales & Leasing in a research note on Thursday, October 13th. They set an “outperform” rating and a $34.00 price objective on the stock. Finally, Raymond James Financial Inc. raised shares of Communications Sales & Leasing from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $32.80.

Analyst Recommendations for Communications Sales & Leasing (NASDAQ:CSAL)

Communications Sales & Leasing (NASDAQ:CSAL) traded down 1.62% during trading on Wednesday, hitting $23.74. 2,346,469 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00. Communications Sales & Leasing has a 12-month low of $15.13 and a 12-month high of $32.73.

Communications Sales & Leasing (NASDAQ:CSAL) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.01. The firm had revenue of $200.20 million for the quarter, compared to analysts’ expectations of $198.62 million. Communications Sales & Leasing had a net margin of 1.54% and a negative return on equity of 0.90%. Communications Sales & Leasing’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts forecast that Communications Sales & Leasing will post $2.42 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the company. First Quadrant L P CA increased its position in shares of Communications Sales & Leasing by 5.9% in the third quarter. First Quadrant L P CA now owns 3,687 shares of the company’s stock worth $116,000 after buying an additional 207 shares in the last quarter. Huntington National Bank acquired a new position in shares of Communications Sales & Leasing during the second quarter worth approximately $124,000. Capital Investment Advisors LLC acquired a new position in shares of Communications Sales & Leasing during the third quarter worth approximately $137,000. Sei Investments Co. increased its position in shares of Communications Sales & Leasing by 38.2% in the second quarter. Sei Investments Co. now owns 4,857 shares of the company’s stock worth $141,000 after buying an additional 1,343 shares in the last quarter. Finally, 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 worth $165,000 after buying an additional 2,439 shares in the last quarter. 59.13% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:CSAL

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