Communications Sales & Leasing,Inc. (UNIT) Expected to Post Earnings of $0.64 Per Share

Brokerages expect Communications Sales & Leasing,Inc. (NASDAQ:UNIT) to announce earnings per share (EPS) of $0.64 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. posted earnings of ($0.03) per share in the same quarter last year, which suggests a positive year over year growth rate of 2,233.3%. The business is expected to issue its next quarterly earnings report on Monday, November 13th.

According to Zacks, analysts expect that Communications Sales & Leasing,Inc. will report full-year earnings of $2.54 per share for the current year, with EPS estimates ranging from $2.53 to $2.54. For the next fiscal year, analysts forecast that the firm will post earnings of $2.73 per share, with EPS estimates ranging from $2.63 to $2.83. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Communications Sales & Leasing,Inc..

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $213.01 million for the quarter, compared to analyst estimates of $214.09 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis.

Several research analysts recently commented on UNIT shares. ValuEngine cut Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Deutsche Bank AG initiated coverage on Communications Sales & Leasing,Inc. in a report on Monday, May 22nd. They set a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research cut Communications Sales & Leasing,Inc. from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. Cowen and Company reissued a “buy” rating and set a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a report on Friday, August 25th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 price objective on shares of Communications Sales & Leasing,Inc. in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.44.

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In other news, EVP Daniel L. Heard acquired 5,400 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $18.54 per share, with a total value of $100,116.00. Following the acquisition, the executive vice president now directly owns 40,793 shares in the company, valued at approximately $756,302.22. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kenny Gunderman acquired 4,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $18.88 per share, for a total transaction of $75,520.00. Following the completion of the acquisition, the insider now owns 271,553 shares in the company, valued at $5,126,920.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,700 shares of company stock worth $297,116 in the last ninety days. Insiders own 0.39% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in Communications Sales & Leasing,Inc. in the first quarter valued at about $107,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter valued at about $134,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter valued at about $136,000. Tyers Asset Management LLC acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter valued at about $184,000. Finally, Snow Capital Management LP acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter valued at about $212,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.

Communications Sales & Leasing,Inc. (UNIT) traded up 0.64% during mid-day trading on Friday, reaching $18.78. 1,061,233 shares of the company traded hands. The stock has a 50 day moving average price of $21.43 and a 200-day moving average price of $24.93. The company’s market capitalization is $3.29 billion. Communications Sales & Leasing,Inc. has a 52-week low of $18.14 and a 52-week high of $32.73.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 12.86%. The ex-dividend date of this dividend is Thursday, September 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is -750.00%.

Communications Sales & Leasing,Inc. Company Profile

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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Earnings History and Estimates for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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