Communications Sales & Leasing,Inc. (NASDAQ:UNIT)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a research note issued to investors on Friday, July 28th. They presently have a $33.00 target price on the real estate investment trust’s stock. Cowen and Company’s target price points to a potential upside of 43.92% from the stock’s previous close.
Several other brokerages have also recently issued reports on UNIT. Royal Bank Of Canada started coverage on shares of Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They issued an “outperform” rating and a $32.00 target price for the company. Deutsche Bank AG lifted their price target on shares of Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, June 7th. ValuEngine lowered shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research lowered shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $31.43.
Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded up 4.99% during trading on Friday, reaching $22.93. 2,479,989 shares of the company traded hands. Communications Sales & Leasing,Inc. has a 12-month low of $21.66 and a 12-month high of $32.73. The firm’s 50 day moving average price is $25.79 and its 200 day moving average price is $26.14. The firm’s market capitalization is $4.02 billion.
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 the Thomson Reuters’ consensus estimate of $0.50 by $0.06. The firm had revenue of $213.01 million for the quarter, compared to analysts’ expectations of $214.09 million. During the same period last year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts expect that Communications Sales & Leasing,Inc. will post ($0.10) earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “Communications Sales & Leasing,Inc. (NASDAQ:UNIT) Rating Reiterated by Cowen and Company” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://stocknewstimes.com/2017/08/07/communications-sales-leasinginc-s-nasdaqunit-buy-rating-reaffirmed-at-cowen-and-company-updated.html.
In related news, insider Kenny Gunderman bought 14,500 shares of the stock in a transaction dated 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 completion of the acquisition, the insider now owns 262,053 shares of the company’s stock, valued at $6,328,579.95. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $339,519,000. BlackRock Inc. bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $298,032,000. Bank of New York Mellon Corp bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $230,840,000. State Street Corp bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $91,615,000. Finally, Ameriprise Financial Inc. bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $53,870,000. 56.96% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Communications Sales & LeasingInc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Communications Sales & LeasingInc. and related companies with MarketBeat.com's FREE daily email newsletter.
