Crown Castle International Corporation (NYSE:CCI) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.07), Bloomberg Earnings reports. Crown Castle International Corporation had a return on equity of 6.95% and a net margin of 11.35%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $1.09 earnings per share. Crown Castle International Corporation’s revenue was up 7.2% compared to the same quarter last year.
Crown Castle International Corporation (NYSE CCI) opened at 103.22 on Friday. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88. The stock has a market cap of $41.93 billion, a PE ratio of 82.38 and a beta of 0.16. The firm’s 50-day moving average price is $102.99 and its 200 day moving average price is $100.40.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, December 14th. This is a boost from Crown Castle International Corporation’s previous quarterly dividend of $0.95. Crown Castle International Corporation’s payout ratio is 316.67%.
In related news, Director J Landis Martin bought 30,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $100.64 per share, with a total value of $3,019,200.00. Following the completion of the purchase, the director now owns 99,335 shares of the company’s stock, valued at approximately $9,997,074.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Several brokerages have commented on CCI. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Crown Castle International Corporation in a research report on Monday. UBS AG cut shares of Crown Castle International Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday. BidaskClub upgraded shares of Crown Castle International Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. CIBC reiterated a “market perform” rating on shares of Crown Castle International Corporation in a research report on Monday. Finally, Zacks Investment Research cut shares of Crown Castle International Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $107.50.
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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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