Wall Street analysts expect Crown Castle International Corp. (NYSE:CCI) to report $1.33 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Crown Castle International’s earnings, with the lowest sales estimate coming in at $1.31 billion and the highest estimate coming in at $1.34 billion. Crown Castle International posted sales of $1.04 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 18th.
According to Zacks, analysts expect that Crown Castle International will report full-year sales of $5.33 billion for the current year, with estimates ranging from $5.28 billion to $5.40 billion. For the next financial year, analysts anticipate that the company will post sales of $5.62 billion per share, with estimates ranging from $5.53 billion to $5.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Crown Castle International.
Crown Castle International (NYSE:CCI) last issued its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.98). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Crown Castle International had a net margin of 8.87% and a return on equity of 4.06%. Crown Castle International’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share.
A number of brokerages have recently commented on CCI. Barclays increased their target price on shares of Crown Castle International from $107.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 17th. ValuEngine cut shares of Crown Castle International from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Cowen reissued a “buy” rating and issued a $119.00 price objective on shares of Crown Castle International in a report on Friday, April 20th. Goldman Sachs lowered shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Finally, Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $114.75.
Shares of Crown Castle International traded up $0.05, reaching $101.77, during mid-day trading on Friday, according to MarketBeat. The company’s stock had a trading volume of 32,595 shares, compared to its average volume of 2,690,231. The stock has a market capitalization of $42.35 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.29. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.22. Crown Castle International has a 1-year low of $93.14 and a 1-year high of $114.97.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, June 14th. Crown Castle International’s dividend payout ratio (DPR) is presently 86.60%.
In other Crown Castle International news, insider Jay A. Brown sold 18,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares of the company’s stock, valued at $17,622,694.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony J. Melone bought 1,979 shares of the stock in a transaction on Friday, April 27th. The shares were bought at an average cost of $101.06 per share, with a total value of $199,997.74. Following the purchase, the director now owns 10,547 shares of the company’s stock, valued at $1,065,879.82. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Avestar Capital LLC purchased a new position in Crown Castle International during the fourth quarter worth about $112,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Crown Castle International during the fourth quarter worth about $124,000. Icon Wealth Partners LLC purchased a new position in Crown Castle International during the fourth quarter worth about $126,000. Benjamin F. Edwards & Company Inc. boosted its stake in Crown Castle International by 1,463.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,083 shares during the period. Finally, Signaturefd LLC purchased a new position in Crown Castle International during the first quarter worth about $134,000. 94.60% of the stock is owned by institutional investors.
Crown Castle International Company Profile
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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