Equities analysts expect CROWN CASTLE IN/SH SH (NYSE:CCI) to report sales of $1.39 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for CROWN CASTLE IN/SH SH’s earnings, with the highest sales estimate coming in at $1.41 billion and the lowest estimate coming in at $1.37 billion. CROWN CASTLE IN/SH SH reported sales of $1.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The company is expected to report its next earnings results on Wednesday, April 17th.
On average, analysts expect that CROWN CASTLE IN/SH SH will report full year sales of $5.73 billion for the current fiscal year, with estimates ranging from $5.68 billion to $5.80 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.01 billion, with estimates ranging from $5.95 billion to $6.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover CROWN CASTLE IN/SH SH.
CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. CROWN CASTLE IN/SH SH had a return on equity of 5.17% and a net margin of 11.86%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year.
Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. Zacks Investment Research cut CROWN CASTLE IN/SH SH from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Macquarie cut CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 12th. Moffett Nathanson cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $118.00 target price on the stock. in a research report on Monday, December 3rd. Finally, TheStreet upgraded CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research report on Wednesday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $119.30.
In other news, SVP Michael Joseph Kavanagh sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward C. Hutcheson, Jr. purchased 350 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were purchased at an average cost of $117.95 per share, for a total transaction of $41,282.50. Following the purchase, the director now directly owns 59,187 shares in the company, valued at $6,981,106.65. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at approximately $26,000. Covington Capital Management purchased a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at approximately $29,000. Athena Capital Advisors LLC purchased a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at approximately $33,000. Doyle Wealth Management purchased a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at approximately $33,000. Finally, Quantamental Technologies LLC purchased a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at approximately $42,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.
NYSE CCI traded up $1.02 on Tuesday, hitting $125.03. 3,155,033 shares of the company’s stock were exchanged, compared to its average volume of 1,939,087. 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 fifty-two week low of $98.85 and a fifty-two week high of $125.66. The stock has a market capitalization of $51.95 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.43 and a beta of 0.41.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, March 14th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.
About CROWN CASTLE IN/SH SH
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.
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