Crown Castle Inc. (NYSE:CCI) Receives $114.21 Average Price Target from Brokerages

Crown Castle Inc. (NYSE:CCI) has earned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $113.53.

CCI has been the subject of several recent analyst reports. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Scotiabank dropped their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. BMO Capital Markets decreased their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Raymond James reissued an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Finally, Bank of America decreased their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th.

Crown Castle Trading Up 1.4 %

Shares of Crown Castle stock opened at $96.66 on Friday. The firm’s 50-day moving average price is $98.46 and its two-hundred day moving average price is $104.28. The company has a market capitalization of $42.00 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.53 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle has a 12-month low of $84.72 and a 12-month high of $119.50.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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 net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business earned $1.91 earnings per share. The business’s revenue was down 7.4% compared to the same quarter last year. On average, analysts forecast that Crown Castle will post 6.62 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle during the fourth quarter valued at $25,000. Rational Advisors LLC acquired a new stake in Crown Castle during the first quarter worth approximately $27,000. EntryPoint Capital LLC bought a new stake in Crown Castle in the first quarter worth approximately $27,000. Gables Capital Management Inc. lifted its stake in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of Crown Castle during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

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.