Analysts Set Crown Castle Inc. (NYSE:CCI) Price Target at $195.20

Shares of Crown Castle Inc. (NYSE:CCIGet Rating) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $195.20.

A number of equities research analysts have weighed in on CCI shares. Credit Suisse Group cut their target price on Crown Castle to $213.00 in a research report on Friday, July 22nd. Cowen dropped their price target on Crown Castle to $195.00 in a report on Friday, July 22nd. Citigroup dropped their price target on Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Jefferies Financial Group raised Crown Castle from a “hold” rating to a “buy” rating and upped their price target for the company from $191.00 to $200.00 in a report on Thursday, June 30th. Finally, raised Crown Castle from a “hold” rating to a “buy” rating in a report on Friday, August 12th.

Crown Castle Stock Performance

CCI opened at $158.39 on Friday. The company has a market capitalization of $68.59 billion, a price-to-earnings ratio of 44.49 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. Crown Castle has a 1-year low of $153.70 and a 1-year high of $209.87. The business has a 50 day moving average price of $173.99 and a two-hundred day moving average price of $177.75.

Crown Castle (NYSE:CCIGet Rating) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.71 earnings per share. Research analysts predict that Crown Castle will post 7.03 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s dividend payout ratio (DPR) is presently 165.17%.

Insider Transactions at Crown Castle

In related news, Director Kevin A. Stephens purchased 699 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were acquired at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the purchase, the director now owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds have recently modified their holdings of CCI. North Star Investment Management Corp. bought a new stake in Crown Castle in the first quarter worth $25,000. IAG Wealth Partners LLC boosted its holdings in Crown Castle by 277.8% in the fourth quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Crown Castle in the first quarter worth $28,000. Blume Capital Management Inc. bought a new stake in Crown Castle in the first quarter worth $29,000. Finally, HWG Holdings LP bought a new stake in Crown Castle in the fourth quarter worth $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

About Crown Castle

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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Analyst Recommendations for Crown Castle (NYSE:CCI)

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