CROWN CASTLE IN/SH SH (NYSE:CCI) Expected to Announce Earnings of $1.28 Per Share

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Wall Street brokerages expect CROWN CASTLE IN/SH SH (NYSE:CCI) to report earnings per share (EPS) of $1.28 for the current quarter, according to Zacks. Six analysts have made estimates for CROWN CASTLE IN/SH SH’s earnings, with estimates ranging from $0.37 to $1.46. CROWN CASTLE IN/SH SH reported earnings of $1.31 per share during the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The firm is scheduled to announce its next earnings results on Wednesday, July 17th.

On average, analysts expect that CROWN CASTLE IN/SH SH will report full year earnings of $5.88 per share for the current fiscal year, with EPS estimates ranging from $5.83 to $5.95. For the next financial year, analysts expect that the firm will report earnings of $6.26 per share, with EPS estimates ranging from $6.20 to $6.31. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow CROWN CASTLE IN/SH SH.

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

A number of equities analysts recently issued reports on the stock. New Street Research lowered shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a research report on Thursday. Wells Fargo & Co increased their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. UBS Group lowered shares of 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. Morgan Stanley increased their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Bank of America increased their target price on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. CROWN CASTLE IN/SH SH has an average rating of “Hold” and a consensus price target of $122.46.

CCI traded up $0.55 on Friday, reaching $133.10. The company had a trading volume of 41,048 shares, compared to its average volume of 1,826,506. The firm has a market capitalization of $56.16 billion, a PE ratio of 24.29, a P/E/G ratio of 1.56 and a beta of 0.34. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.91. CROWN CASTLE IN/SH SH has a one year low of $99.99 and a one year high of $137.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $4.50 annualized dividend and a dividend yield of 3.38%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

In other news, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total transaction of $150,228.00. Following the completion of the transaction, the vice president now owns 1,616 shares in the company, valued at approximately $202,307.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J Landis Martin acquired 18,350 shares of CROWN CASTLE IN/SH SH stock in a transaction on Wednesday, April 24th. The shares were 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 of the company’s stock, valued at approximately $14,863,884.21. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its holdings in CROWN CASTLE IN/SH SH by 10,630.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,899,104 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 4,853,447 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of CROWN CASTLE IN/SH SH by 7.6% during the 3rd quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after purchasing an additional 3,771,236 shares in the last quarter. Norges Bank acquired a new stake in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $347,360,000. Jennison Associates LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 110.6% during the 4th quarter. Jennison Associates LLC now owns 4,571,756 shares of the real estate investment trust’s stock worth $496,630,000 after purchasing an additional 2,400,421 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of CROWN CASTLE IN/SH SH by 42.8% during the 4th quarter. California Public Employees Retirement System now owns 2,071,955 shares of the real estate investment trust’s stock worth $225,076,000 after purchasing an additional 621,262 shares in the last quarter. 92.19% 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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