Crown Castle (NYSE:CCI) PT Lowered to $100.00

Crown Castle (NYSE:CCI) had its target price decreased by equities researchers at Wells Fargo & Company from $115.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 5.50% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America lowered their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday. BMO Capital Markets lowered their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.73.

Crown Castle Trading Up 0.4 %

Shares of CCI stock traded up $0.42 during trading hours on Friday, hitting $94.79. 1,939,147 shares of the company were exchanged, compared to its average volume of 2,796,404. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $131.43. The company has a 50 day simple moving average of $105.15 and a two-hundred day simple moving average of $105.07. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $41.19 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.48 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 20.78% and a net margin of 20.32%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities analysts anticipate that Crown Castle will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCI. Riverview Trust Co grew its holdings in Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Crown Castle during the 4th quarter valued at about $25,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle during the 3rd quarter valued at about $28,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Crown Castle during the 2nd quarter valued at about $29,000. Finally, Operose Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.