Communications Sales & Leasing,Inc. (NASDAQ:UNIT) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.50-$2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.06. The company issued revenue guidance of $913-$918 million, compared to the consensus revenue estimate of $916.02 million.
Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded down $0.20 during midday trading on Monday, hitting $16.63. The stock had a trading volume of 2,272,000 shares, compared to its average volume of 2,031,639. The stock has a market capitalization of $2,880.00 and a PE ratio of 6.87. Communications Sales & Leasing,Inc. has a one year low of $13.81 and a one year high of $29.65. The company has a debt-to-equity ratio of -0.05, a quick ratio of 0.03 and a current ratio of 0.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 14.43%. The ex-dividend date is Thursday, December 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is presently -888.89%.
UNIT has been the subject of several recent research reports. Zacks Investment Research upgraded Communications Sales & Leasing,Inc. from a hold rating to a strong-buy rating and set a $26.00 price target for the company in a research report on Wednesday, August 9th. Citigroup Inc. cut Communications Sales & Leasing,Inc. from a buy rating to a neutral rating in a research report on Tuesday, September 26th. ValuEngine upgraded Communications Sales & Leasing,Inc. from a hold rating to a buy rating in a research report on Monday, October 2nd. Cowen and Company restated a buy rating and set a $33.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Friday, August 25th. Finally, Bank of America Corporation cut Communications Sales & Leasing,Inc. from a buy rating to a neutral rating in a research report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $26.63.
In related news, insider Kenny Gunderman bought 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $19.23 per share, with a total value of $38,460.00. Following the purchase, the insider now owns 267,553 shares in the company, valued at approximately $5,145,044.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel L. Heard bought 5,400 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $18.54 per share, with a total value of $100,116.00. Following the purchase, the executive vice president now owns 40,793 shares in the company, valued at approximately $756,302.22. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 13,200 shares of company stock valued at $248,416. Corporate insiders own 0.39% of the company’s stock.
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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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