Crown Castle (NYSE:CCI) Raised to Overweight at Barclays

Crown Castle (NYSE:CCI) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $104.00 target price on the real estate investment trust’s stock, down from their prior target price of $117.00. Barclays‘s price target would indicate a potential upside of 23.35% from the company’s previous close.

Several other brokerages also recently weighed in on CCI. TD Cowen lowered their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. UBS Group raised their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Down 3.6 %

Shares of NYSE CCI opened at $84.31 on Monday. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a market cap of $36.64 billion, a P/E ratio of 29.90 and a beta of 0.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a fifty day moving average price of $98.47 and a 200 day moving average price of $105.97.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts anticipate that Crown Castle will post 6.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Crown Castle by 3,672.7% in the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 404 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Crown Castle in the 3rd quarter worth approximately $47,000. Finally, Friedenthal Financial bought a new stake in shares of Crown Castle in the 3rd quarter worth approximately $50,000. Institutional investors 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.