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Communications Sales & Leasing Q4 FFO Misses Views; Buys Hunt Comms For $170 Mln; Changes Name

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Communications Sales & Leasing ( CSAL ) reported Q4 funds from operations of $0.54 per share, down from $0.62 a year ago and below the $0.59 average estimate from analysts polled by Capital IQ.

Revenue rose to $206.9 million from $173.9 million, in line with the consensus.

For 2017, the firm said it expects revenue between $841 million and $847 million, straddling the $845.9 million estimate, and FFO between $2.31 to $2.36, below the $2.44 estimate.

The company also said it has agreed to acquire Hunt Telecommunications, a provider of data transport to K--12 schools and government agencies with a network of 140,000 fiber strand miles and 2,600 fiber route miles in Louisiana. The company is paying an initial consideration of $170 million in cash and equity.

Finally Communications Sales & Leasing said it is changing its name to Uniti Group effective at the market open on Feb. 27. The stock will then start trading under the symbol UNIT.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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