Crown Castle (NYSE:CCI) Price Target Increased to $112.00 by Analysts at Barclays

Crown Castle (NYSE:CCI) had its price objective increased by stock analysts at Barclays from $111.00 to $112.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 16.85% from the company’s current price.

A number of other equities analysts also recently commented on the company. BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. 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 report on Wednesday, February 21st. Bank of America decreased their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Scotiabank cut their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $113.29.

Crown Castle Stock Up 0.8 %

Shares of CCI traded up $0.77 during midday trading on Tuesday, hitting $95.85. The company had a trading volume of 651,370 shares, compared to its average volume of 2,814,524. The company’s 50-day simple moving average is $104.62 and its 200-day simple moving average is $105.37. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a market capitalization of $41.65 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.53 and a beta of 0.73. Crown Castle has a 1 year low of $84.72 and a 1 year high of $128.27.

Crown Castle (NYSE:CCI) last posted its 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 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Crown Castle will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCI. Riverview Trust Co increased 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 worth $25,000 after purchasing an additional 140 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Crown Castle by 13.4% in the 3rd quarter. Caprock Group LLC now owns 5,228 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 618 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Crown Castle by 1.7% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 45,526 shares of the real estate investment trust’s stock valued at $4,190,000 after acquiring an additional 755 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Crown Castle by 3.8% in the 3rd quarter. Proficio Capital Partners LLC now owns 6,940 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 253 shares in the last quarter. Finally, NovaPoint Capital LLC grew its holdings in shares of Crown Castle by 19.9% in the 3rd quarter. NovaPoint Capital LLC now owns 5,626 shares of the real estate investment trust’s stock valued at $518,000 after acquiring an additional 935 shares in the last quarter. Institutional investors and hedge funds 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.