CROWN CASTLE In/SH SH (CCI) Updates FY 2019 Earnings Guidance

CROWN CASTLE In/SH SH (NYSE:CCI) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.80-5.91 for the period. CROWN CASTLE In/SH SH also updated its FY 2018 guidance to $5.48-5.50 EPS.

Several research firms have weighed in on CCI. Morgan Stanley boosted their target price on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an overweight rating in a research report on Thursday, August 16th. Zacks Investment Research raised shares of CROWN CASTLE In/SH SH from a hold rating to a buy rating and set a $124.00 target price on the stock in a research report on Thursday, July 19th. Cowen reissued a buy rating and set a $121.00 target price on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Guggenheim reissued a buy rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Finally, UBS Group set a $120.00 target price on shares of CROWN CASTLE In/SH SH and gave the stock a buy rating in a research report on Friday, September 28th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $117.45.

Shares of CCI stock traded down $0.11 during trading hours on Wednesday, hitting $106.79. The company’s stock had a trading volume of 2,464,836 shares, compared to its average volume of 2,484,421. The company has a market capitalization of $46.18 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.91 and a quick ratio of 0.91. CROWN CASTLE In/SH SH has a 12-month low of $98.85 and a 12-month high of $114.97.

CROWN CASTLE In/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 18th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.91). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. CROWN CASTLE In/SH SH had a net margin of 9.72% and a return on equity of 4.20%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. As a group, sell-side analysts forecast that CROWN CASTLE In/SH SH will post 5.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $1.125 dividend. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. This represents a $4.50 annualized dividend and a dividend yield of 4.21%. CROWN CASTLE In/SH SH’s dividend payout ratio is 86.60%.

In other news, Director Robert E. Garrison II sold 2,451 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total value of $279,315.96. Following the sale, the director now directly owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Landis Martin acquired 6,100 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was acquired at an average cost of $110.14 per share, for a total transaction of $671,854.00. Following the completion of the acquisition, the director now directly owns 107,822 shares in the company, valued at $11,875,515.08. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

CROWN CASTLE In/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.

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Earnings History and Estimates for CROWN CASTLE In/SH SH (NYSE:CCI)

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