Zacks: Brokerages Expect Communications Sales & Leasing,Inc. (UNIT) to Post $0.50 Earnings Per Share

Wall Street analysts forecast that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will report earnings per share (EPS) of $0.50 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. reported earnings per share of $0.56 in the same quarter last year, which suggests a negative year over year growth rate of 10.7%. The business is expected to issue its next earnings results after the market closes on Thursday, August 3rd.

On average, analysts expect that Communications Sales & Leasing,Inc. will report full year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $2.07 to $2.09. For the next financial year, analysts anticipate that the business will post earnings of $2.36 per share, with EPS estimates ranging from $2.31 to $2.40. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Communications Sales & Leasing,Inc..

Several brokerages have weighed in on UNIT. Royal Bank Of Canada began coverage on shares of Communications Sales & Leasing,Inc. in a report on Monday. They set an “outperform” rating and a $32.00 price objective for the company. Deutsche Bank AG raised their price objective on shares of Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Zacks Investment Research lowered shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Finally, Morgan Stanley began coverage on shares of Communications Sales & Leasing,Inc. in a report on Tuesday, February 28th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $32.29.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 1.28% during trading on Thursday, hitting $27.05. 351,626 shares of the company’s stock traded hands. The stock’s market cap is $4.75 billion. The firm’s 50-day moving average price is $25.55 and its 200 day moving average price is $26.21. Communications Sales & Leasing,Inc. has a 12-month low of $22.50 and a 12-month high of $32.73.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 8.76%. The ex-dividend date of this dividend is Wednesday, June 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio is currently -1,043.43%.

In related news, insider Kenny Gunderman acquired 14,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was bought at an average cost of $24.15 per share, with a total value of $350,175.00. Following the acquisition, the insider now directly owns 262,053 shares in the company, valued at $6,328,579.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Columbia Partners L L C Investment Management bought a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $483,000. Public Employees Retirement System of Ohio acquired a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $1,401,000. Steadfast Capital Management LP acquired a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $24,048,000. Teachers Retirement System of The State of Kentucky acquired a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $888,000. Finally, Goldman Sachs Group Inc. acquired a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $20,359,000. 51.16% of the stock is owned by institutional investors.

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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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