Zacks restated their neutral rating on shares of Crown Castle International Corp. (NYSE:CCI) in a report issued on Wednesday, AnalystRatings.NET reports. They currently have a $79.00 target price on the stock.
Zacks’ analyst wrote, “Crown Castle reported mixed financial results in third-quarter 2013 with bottom line missing the Zacks Consensus Estimate while the top line outpacing the same. Higher smartphone and tablet usage coupled with increased deployment of 4G LTE networks and acquisition of towers from T-Mobile USA will act as tailwinds for the company in the near future. Moreover, continuous tower buying spree coupled with company’s recent decision to convert its business into REIT will not only gain market traction but will also drive its tax savings, thereby creating long-term shareholders wealth in terms of higher dividends. However, a highly leveraged balance sheet and the ongoing merger talks between large telecom carriers may act as headwinds for the company in the long term. Moreover, the stock price is currently trading at 52-week high range and is also highly valued at current levels. “
A number of other firms have also recently commented on CCI. Analysts at Deutsche Bank raised their price target on shares of Crown Castle International Corp. from $89.00 to $95.00 in a research note to investors on Thursday, October 24th. They now have a buy rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Crown Castle International Corp. from $81.00 to $82.00 in a research note to investors on Tuesday, October 22nd. They now have an outperform rating on the stock. Finally, analysts at Stifel Nicolaus reiterated a buy rating on shares of Crown Castle International Corp. in a research note to investors on Friday, September 6th. They now have a $82.00 price target on the stock, down previously from $90.00. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $85.00.
Crown Castle International Corp. (NYSE:CCI) traded up 0.13% on Wednesday, hitting $74.61. 249,241 shares of the company’s stock traded hands. Crown Castle International Corp. has a 52-week low of $66.13 and a 52-week high of $81.16. The stock’s 50-day moving average is $75.23 and its 200-day moving average is $72.32. The company has a market cap of $24.522 billion and a P/E ratio of 231.40.
Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.17 by $0.01. The company had revenue of $749.00 million for the quarter, compared to the consensus estimate of $730.80 million. During the same quarter last year, the company posted $0.14 earnings per share. Crown Castle International Corp.’s revenue was up 20.6% compared to the same quarter last year. Analysts expect that Crown Castle International Corp. will post $0.55 EPS for the current fiscal year.
Crown Castle International Corp. (NYSE:CCI) owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers); distributed antenna systems (DAS)(each such system is a network of antennas for the benefit of wireless carriers and is connected by fiber to communication hubs designed to facilitate wireless communications), and interests in land under third party towers in various forms (third party land interests) (unless the context otherwise suggests or requires, references herein to wireless infrastructure include towers, DAS and third party land interests).
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