Zacks: Analysts Expect Communications Sales & Leasing,Inc. (UNIT) to Post $0.50 EPS

Wall Street analysts predict that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will report earnings per share of $0.50 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. posted earnings per share of $0.56 in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The firm is scheduled to report its next earnings report 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 expect that the company will post earnings of $2.36 per share, with EPS estimates ranging from $2.31 to $2.40. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Communications Sales & Leasing,Inc..

Several equities analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday, June 19th. They set an “outperform” rating and a $32.00 target price on the stock. ValuEngine cut shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Deutsche Bank AG raised their target price on shares of Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Finally, Zacks Investment Research raised shares of Communications Sales & Leasing,Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Communications Sales & Leasing,Inc. presently has a consensus rating of “Buy” and an average price target of $32.33.

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In related news, insider Kenny Gunderman bought 14,500 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $24.15 per share, with a total value of $350,175.00. Following the purchase, the insider now owns 262,053 shares in the company, valued at $6,328,579.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in UNIT. Texas Permanent School Fund acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $2,624,000. Retirement Systems of Alabama acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $8,308,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $10,918,000. Wildcat Capital Management LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $4,214,000. Finally, Horrell Capital Management Inc. acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $2,599,000. 50.72% of the stock is currently owned by institutional investors.

Communications Sales & Leasing,Inc. (UNIT) traded down 0.55% during mid-day trading on Tuesday, reaching $25.46. 659,324 shares of the company were exchanged. The company’s 50 day moving average price is $25.57 and its 200-day moving average price is $26.23. The stock’s market capitalization is $4.47 billion. Communications Sales & Leasing,Inc. has a 12 month low of $22.50 and a 12 month high of $32.73.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 9.43%. 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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