Crown Castle (NYSE:CCI) Price Target Increased to $105.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price objective hoisted by equities researchers at Wells Fargo & Company from $100.00 to $105.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 6.42% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets upped their price target on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Bank of America boosted their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $115.64.

Crown Castle Stock Up 0.4 %

NYSE CCI traded up $0.45 on Friday, reaching $112.20. The company had a trading volume of 1,173,264 shares, compared to its average volume of 2,631,354. The company’s fifty day moving average is $114.00 and its 200-day moving average is $105.05. Crown Castle has a 1-year low of $84.72 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 41.10 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. On average, research analysts forecast that Crown Castle will post 6.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Crown Castle

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Crown Castle by 1.2% in the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after acquiring an additional 673,243 shares in the last quarter. Legal & General Group Plc raised its holdings in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares in the last quarter. National Bank of Canada FI increased its holdings in Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after buying an additional 391,127 shares in the last quarter. ClearBridge Investments Ltd increased its holdings in Crown Castle by 19.4% in the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after buying an additional 428,597 shares in the last quarter. Finally, Cooke & Bieler LP grew its position in shares of Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares during the last quarter. 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.