StockNews.com Downgrades Crown Castle International (NYSE:CCI) to Hold

Crown Castle International (NYSE:CCIGet Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company downgraded Crown Castle International from an “equal weight” rating to an “underweight” rating and set a $180.00 price target for the company. in a research note on Thursday, June 2nd. Barclays lowered their price objective on Crown Castle International from €222.00 ($233.68) to €214.00 ($225.26) in a research report on Friday, March 18th. Morgan Stanley lowered their price target on Crown Castle International from $215.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Credit Suisse Group boosted their price target on Crown Castle International from $204.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Finally, Raymond James boosted their price target on Crown Castle International from $184.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $202.71.

NYSE CCI traded up $3.51 during trading hours on Thursday, hitting $171.58. The company’s stock had a trading volume of 1,604,811 shares, compared to its average volume of 1,871,660. Crown Castle International has a 12 month low of $153.70 and a 12 month high of $209.87. The company’s 50 day simple moving average is $180.60 and its two-hundred day simple moving average is $182.78. The company has a market cap of $74.30 billion, a P/E ratio of 51.07 and a beta of 0.53. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.71 and a quick ratio of 0.71.

Crown Castle International (NYSE:CCIGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. Crown Castle International had a return on equity of 17.40% and a net margin of 22.12%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. As a group, research analysts predict that Crown Castle International will post 7.06 earnings per share for the current fiscal year.

In related news, VP Robert Sean Collins sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $185.44, for a total transaction of $185,440.00. Following the completion of the sale, the vice president now directly owns 10,082 shares in the company, valued at approximately $1,869,606.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Levendos sold 11,000 shares of the stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $192.79, for a total value of $2,120,690.00. Following the completion of the sale, the chief operating officer now owns 11,717 shares of the company’s stock, valued at $2,258,920.43. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $3,261,230 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Westbourne Investment Advisors Inc. purchased a new position in shares of Crown Castle International in the first quarter valued at approximately $212,000. J.W. Cole Advisors Inc. lifted its position in Crown Castle International by 3.0% during the first quarter. J.W. Cole Advisors Inc. now owns 3,066 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 89 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown Castle International by 22.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,683 shares of the real estate investment trust’s stock worth $23,201,000 after buying an additional 23,381 shares in the last quarter. ESG Planning purchased a new position in Crown Castle International during the first quarter worth approximately $562,000. Finally, Walleye Capital LLC purchased a new position in Crown Castle International during the first quarter worth approximately $3,262,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle International Company Profile (Get Rating)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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Analyst Recommendations for Crown Castle International (NYSE:CCI)

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