Analysts Set Crown Castle Inc. (NYSE:CCI) Target Price at $118.93

Shares of Crown Castle Inc. (NYSE:CCI) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $119.40.

A number of brokerages recently commented on CCI. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank decreased their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada raised their price target on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st.

Crown Castle Stock Up 1.4 %

CCI stock opened at $94.37 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $41.01 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.50 and a beta of 0.73. The business’s fifty day moving average price is $105.15 and its two-hundred day moving average price is $105.07. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $134.09.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 180.92%.

Institutional Trading of Crown Castle

A number of hedge funds have recently made changes to their positions in CCI. Moors & Cabot Inc. boosted its stake in shares of Crown Castle by 3.4% during the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Crown Castle by 33.4% during the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock valued at $730,000 after purchasing an additional 991 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Crown Castle by 4,497.6% in the first quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after acquiring an additional 5,577 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Crown Castle by 12.3% in the first quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 525 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Crown Castle by 205.9% in the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 591 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.