Crown Castle International Corporation (NYSE:CCI) - Stock analysts at Jefferies Group upped their Q4 2017 earnings estimates for shares of Crown Castle International Corporation in a note issued to investors on Wednesday. Jefferies Group analyst M. Mccormack now anticipates that the real estate investment trust will post earnings of $1.25 per share for the quarter, up from their prior forecast of $1.22. Jefferies Group currently has a “Buy” rating and a $110.00 price target on the stock.
Several other analysts also recently issued reports on CCI. Guggenheim raised shares of Crown Castle International Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $91.00 to $101.00 in a report on Monday, April 10th. Macquarie restated a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Wednesday, July 19th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Crown Castle International Corporation in a research report on Monday, June 12th. Citigroup Inc. cut shares of Crown Castle International Corporation to a “market perform” rating in a research report on Monday, June 12th. Finally, Barclays PLC dropped their target price on shares of Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, May 22nd. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $104.95.
Shares of Crown Castle International Corporation (NYSE:CCI) traded down 0.02% during trading on Monday, reaching $99.48. 2,149,940 shares of the company’s stock were exchanged. The firm has a market capitalization of $36.42 billion, a P/E ratio of 79.39 and a beta of 0.20. The company has a 50 day moving average of $100.24 and a 200 day moving average of $94.58. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $104.68.
Crown Castle International Corporation (NYSE:CCI) last posted its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS.
A number of institutional investors have recently added to or reduced their stakes in CCI. Winslow Evans & Crocker Inc. boosted its stake in shares of Crown Castle International Corporation by 36.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 278 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Crown Castle International Corporation by 261.5% in the first quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 923 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Crown Castle International Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 10 shares during the last quarter. First Personal Financial Services boosted its stake in shares of Crown Castle International Corporation by 1,574.0% in the first quarter. First Personal Financial Services now owns 1,674 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 1,574 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Crown Castle International Corporation during the first quarter worth about $165,000. 91.34% of the stock is owned by hedge funds and other institutional investors.
In other Crown Castle International Corporation news, Director Robert F. Mckenzie sold 1,500 shares of Crown Castle International Corporation stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $96.48, for a total transaction of $144,720.00. Following the completion of the transaction, the director now directly owns 28,953 shares of the company’s stock, valued at $2,793,385.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James D. Young sold 24,646 shares of Crown Castle International Corporation stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total transaction of $2,402,985.00. Following the transaction, the chief operating officer now directly owns 140,006 shares of the company’s stock, valued at $13,650,585. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were given a dividend of $0.95 per share. The ex-dividend date was Wednesday, June 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.82%. Crown Castle International Corporation’s dividend payout ratio (DPR) is 304.00%.
Crown Castle International Corporation Company Profile
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
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