CROWN CASTLE IN/SH SH (CCI) Expected to Post Earnings of $1.42 Per Share

Brokerages expect that CROWN CASTLE IN/SH SH (NYSE:CCI) will announce earnings of $1.42 per share for the current quarter, Zacks reports. Six analysts have made estimates for CROWN CASTLE IN/SH SH’s earnings, with estimates ranging from $1.37 to $1.45. CROWN CASTLE IN/SH SH posted earnings of $1.36 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The firm is expected to issue its next quarterly earnings results on Wednesday, April 17th.

On average, analysts expect that CROWN CASTLE IN/SH SH will report full year earnings of $5.88 per share for the current financial year, with EPS estimates ranging from $5.86 to $5.91. For the next year, analysts forecast that the firm will report earnings of $6.23 per share, with EPS estimates ranging from $6.09 to $6.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for CROWN CASTLE IN/SH SH.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year.

CCI has been the subject of several recent analyst reports. Wells Fargo & Co boosted their price objective on shares of CROWN CASTLE IN/SH SH from $123.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 12th. Raymond James upgraded shares of CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. Macquarie downgraded shares of CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 12th. Goldman Sachs Group downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price target for the company. in a research report on Monday, January 14th. Finally, Zacks Investment Research upgraded shares of CROWN CASTLE IN/SH SH from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. CROWN CASTLE IN/SH SH currently has a consensus rating of “Hold” and an average price target of $119.30.

In other news, Director Edward C. Hutcheson, Jr. acquired 350 shares of the business’s stock in a transaction on Friday, February 8th. The stock was bought at an average price of $117.95 per share, for a total transaction of $41,282.50. Following the transaction, the director now owns 59,187 shares in the company, valued at $6,981,106.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.06, for a total transaction of $300,150.00. Following the transaction, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $26,000. Covington Capital Management acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $29,000. Athena Capital Advisors LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $33,000. Doyle Wealth Management acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $33,000. Finally, Quantamental Technologies LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $42,000. Institutional investors own 92.64% of the company’s stock.

Shares of NYSE:CCI traded up $0.67 during trading on Friday, hitting $124.68. 1,359,420 shares of the company were exchanged, compared to its average volume of 1,914,767. The company has a market capitalization of $51.95 billion, a PE ratio of 22.75, a P/E/G ratio of 1.43 and a beta of 0.41. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.38. CROWN CASTLE IN/SH SH has a 12-month low of $98.85 and a 12-month high of $125.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $1.125 dividend. The ex-dividend date is Thursday, March 14th. This represents a $4.50 annualized dividend and a yield of 3.61%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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.

Featured Story: Bull Market

Get a free copy of the Zacks research report on CROWN CASTLE IN/SH SH (CCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply