Zacks: Analysts Expect CROWN CASTLE IN/SH SH (CCI) Will Post Quarterly Sales of $1.43 Billion

Brokerages expect CROWN CASTLE IN/SH SH (NYSE:CCI) to post sales of $1.43 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for CROWN CASTLE IN/SH SH’s earnings, with the highest sales estimate coming in at $1.45 billion and the lowest estimate coming in at $1.41 billion. CROWN CASTLE IN/SH SH reported sales of $1.33 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is expected to report its next earnings report on Wednesday, July 17th.

On average, analysts expect that CROWN CASTLE IN/SH SH will report full year sales of $5.78 billion for the current financial year, with estimates ranging from $5.72 billion to $5.85 billion. For the next financial year, analysts forecast that the company will post sales of $6.06 billion, with estimates ranging from $5.97 billion to $6.14 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover CROWN CASTLE IN/SH SH.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.93). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. CROWN CASTLE IN/SH SH’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS.

Several research firms recently commented on CCI. UBS Group downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a research report on Thursday, April 11th. Wells Fargo & Co raised their target price on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Guggenheim downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Bank of America raised their target price on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Deutsche Bank downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research report on Monday, March 18th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $122.50.

CROWN CASTLE IN/SH SH stock opened at $127.25 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.91. The company has a market cap of $52.90 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.47 and a beta of 0.40. CROWN CASTLE IN/SH SH has a one year low of $99.99 and a one year high of $130.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $1.125 dividend. The ex-dividend date is Thursday, June 13th. This represents a $4.50 annualized dividend and a yield of 3.54%. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.

In other news, SVP Michael Joseph Kavanagh sold 2,500 shares of CROWN CASTLE IN/SH SH stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the sale, the senior vice president now directly owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Landis Martin bought 18,350 shares of the stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of $123.13 per share, with a total value of $2,259,435.50. Following the completion of the purchase, the director now directly owns 120,717 shares in the company, valued at approximately $14,863,884.21. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCI. Vanguard Group Inc increased its stake in shares of CROWN CASTLE IN/SH SH by 7.6% in the 3rd quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after buying an additional 3,771,236 shares during the period. Fox Run Management L.L.C. increased its stake in shares of CROWN CASTLE IN/SH SH by 8.4% in the 4th quarter. Fox Run Management L.L.C. now owns 3,065 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 238 shares during the period. Virtu Financial LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at $674,000. Quadrant Capital Group LLC increased its stake in shares of CROWN CASTLE IN/SH SH by 22.1% in the 4th quarter. Quadrant Capital Group LLC now owns 756 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 137 shares during the period. Finally, NuWave Investment Management LLC increased its stake in shares of CROWN CASTLE IN/SH SH by 52.3% in the 4th quarter. NuWave Investment Management LLC now owns 1,991 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 684 shares during the period. 93.20% of the stock is owned by institutional investors.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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