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

Wall Street brokerages forecast that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will post earnings per share (EPS) of $0.50 for the current quarter, according to Zacks. Five analysts have provided estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. posted earnings of $0.56 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The firm is expected to issue its next quarterly 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 year, with EPS estimates ranging from $2.07 to $2.09. For the next financial year, analysts expect that the business will post earnings of $2.36 per share, with EPS estimates ranging from $2.31 to $2.40. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Communications Sales & Leasing,Inc..

UNIT has been the subject of several research analyst reports. Deutsche Bank AG initiated coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday, May 22nd. They issued a “buy” rating and a $28.00 price objective for the company. Morgan Stanley initiated coverage on shares of Communications Sales & Leasing,Inc. in a research note on Tuesday, February 28th. They issued an “overweight” rating for the company. Zacks Investment Research downgraded shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, Royal Bank Of Canada initiated coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday. They issued an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.29.

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

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 paid a $0.60 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 8.76%. Communications Sales & Leasing,Inc.’s dividend payout ratio is presently -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 price of $24.15 per share, for a total transaction of $350,175.00. Following the completion of the purchase, the insider now directly owns 262,053 shares of the company’s stock, valued at approximately $6,328,579.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $339,519,000. BlackRock Inc. acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $298,032,000. Bank of New York Mellon Corp acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $230,840,000. State Street Corp acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $91,615,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $53,870,000. Institutional investors own 51.16% of the company’s stock.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:UNIT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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