CROWN CASTLE IN/SH SH (NYSE:CCI) Issues Earnings Results, Misses Expectations By $0.85 EPS

CROWN CASTLE IN/SH SH (NYSE:CCI) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85), RTT News reports. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company posted $0.36 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. CROWN CASTLE IN/SH SH updated its FY 2019 guidance to $5.89-5.97 EPS and its FY19 guidance to $5.66-5.73 EPS.

Shares of NYSE CCI opened at $125.48 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.99. The firm has a fifty day moving average price of $133.24. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $137.85. The firm has a market cap of $52.75 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.33.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, June 13th. CROWN CASTLE IN/SH SH’s dividend payout ratio is 82.12%.

A number of research firms recently weighed in on CCI. Morgan Stanley increased their price target on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Guggenheim cut Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 price target on the stock. in a research note on Friday, April 12th. Wells Fargo & Co increased their price target on Sempra Energy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. UBS Group restated a “buy” rating and issued a $70.00 price target on shares of Lumentum in a research note on Thursday, April 11th. Finally, New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target on the stock. in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. CROWN CASTLE IN/SH SH has a consensus rating of “Hold” and an average price target of $122.33.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now directly owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Landis Martin acquired 18,350 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $123.13 per share, for a total transaction of $2,259,435.50. Following the completion of the acquisition, the director now owns 120,717 shares in the company, valued at $14,863,884.21. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its holdings in shares of CROWN CASTLE IN/SH SH by 108.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 146,833 shares of the real estate investment trust’s stock worth $19,140,000 after purchasing an additional 76,252 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of CROWN CASTLE IN/SH SH by 128.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,379 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 776 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 6.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 38,260 shares of the real estate investment trust’s stock worth $4,987,000 after purchasing an additional 2,261 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of CROWN CASTLE IN/SH SH by 2.8% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 17,156 shares of the real estate investment trust’s stock worth $2,236,000 after purchasing an additional 475 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH during the 2nd quarter worth $462,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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Earnings History for CROWN CASTLE IN/SH SH (NYSE:CCI)

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