JP Morgan Assumes Communications Sales & Leasing Inc to Overweight

Brokerage firm JP Morgan Assumes its rating on Communications Sales & Leasing Inc(NASDAQ:CSAL). The shares have been rated Overweight. The rating by JP Morgan was issued on Sep 26, 2016.

In a different note, On Jul 5, 2016, Citigroup said it Reinstates its rating on Communications Sales & Leasing Inc. The shares have been rated ‘Buy’ by the firm.

Communications Sales & Leasing Inc (CSAL) made into the market gainers list on Thursdays trading session with the shares advancing 1.25% or 0.39 points. Due to strong positive momentum, the stock ended at $31.62, which is also near the day’s high of $31.69. The stock began the session at $31.45 and the volume stood at 8,78,643 shares. The 52-week high of the shares is $32.47 and the 52 week low is $15.13. The company has a current market capitalization of $4,867 M and it has 15,39,11,060 shares in outstanding.

Communications Sales & Leasing Inc has also declared a cash dividend of $0.6000 on Aug 9, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 14, 2016.

Communications Sales & Leasing Inc(CSAL) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $0.66.

Communications Sales & Leasing Inc. (CS&L) is engaged in the ownership acquisition and leasing of communication distribution systems. The Company holds the fiber and copper networks and other real estate (the Distribution Systems) and a small consumer competitive local exchange carrier (CLEC) business (the Consumer CLEC Business). The Company’s leasing activities consists of leasing back to Windstream Holdings Inc. the Distribution Systems through a triple-net master lease agreement (the Master Lease). The Company also expands its portfolio by acquiring other real property assets within or outside of the communications infrastructure industry for lease to third-parties.

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