Wall Street analysts predict that CROWN CASTLE In/SH SH (NYSE:CCI) will post earnings of $1.44 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for CROWN CASTLE In/SH SH’s earnings. The lowest EPS estimate is $1.43 and the highest is $1.49. CROWN CASTLE In/SH SH posted earnings of $1.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 15.2%. The business is expected to report its next quarterly earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that CROWN CASTLE In/SH SH will report full year earnings of $5.51 per share for the current financial year, with EPS estimates ranging from $5.49 to $5.56. For the next fiscal year, analysts anticipate that the company will report earnings of $5.91 per share, with EPS estimates ranging from $5.86 to $6.09. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CROWN CASTLE In/SH SH.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS.
A number of brokerages have recently issued reports on CCI. Moffett Nathanson downgraded shares of CROWN CASTLE In/SH SH from a “buy” rating to a “neutral” rating and set a $118.00 price target on the stock. in a report on Monday. ValuEngine downgraded shares of CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Barclays raised their price objective on shares of CROWN CASTLE In/SH SH from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, October 19th. TheStreet downgraded shares of CROWN CASTLE In/SH SH from a “b” rating to a “c+” rating in a report on Wednesday, October 17th. Finally, UBS Group set a $120.00 price objective on shares of CROWN CASTLE In/SH SH and gave the stock a “buy” rating in a report on Friday, September 28th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $118.11.
In other news, Director Langenfeld Cynthia K. Christy purchased 900 shares of the stock in a transaction on Monday, October 22nd. The shares were acquired at an average price of $106.19 per share, with a total value of $95,571.00. Following the completion of the acquisition, the director now directly owns 25,424 shares of the company’s stock, valued at $2,699,774.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of CCI. Cornerstone Wealth Management LLC bought a new stake in shares of CROWN CASTLE In/SH SH during the second quarter valued at approximately $415,000. Dupont Capital Management Corp increased its position in CROWN CASTLE In/SH SH by 58.9% in the second quarter. Dupont Capital Management Corp now owns 4,247 shares of the real estate investment trust’s stock worth $458,000 after purchasing an additional 1,575 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in CROWN CASTLE In/SH SH in the second quarter worth $6,547,000. D.A. Davidson & CO. increased its position in CROWN CASTLE In/SH SH by 22.4% in the second quarter. D.A. Davidson & CO. now owns 21,705 shares of the real estate investment trust’s stock worth $2,340,000 after purchasing an additional 3,973 shares during the last quarter. Finally, KBC Group NV increased its position in CROWN CASTLE In/SH SH by 34.1% in the second quarter. KBC Group NV now owns 52,099 shares of the real estate investment trust’s stock worth $5,618,000 after purchasing an additional 13,243 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CCI traded down $1.71 during trading on Friday, reaching $115.76. 2,254,004 shares of the company traded hands, compared to its average volume of 2,034,155. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.33. The company has a market cap of $47.71 billion, a PE ratio of 23.87, a PEG ratio of 1.41 and a beta of 0.38. CROWN CASTLE In/SH SH has a 52-week low of $98.85 and a 52-week high of $117.60.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $1.125 per share. The ex-dividend date is Thursday, December 13th. This represents a $4.50 annualized dividend and a yield of 3.89%. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s payout ratio is currently 86.60%.
About CROWN CASTLE In/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.
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