Crown Castle Inc. (NYSE:CCI) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Crown Castle Inc. (NYSE:CCI – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $111.5882.

CCI has been the subject of several research analyst reports. KeyCorp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Monday. Raymond James Financial dropped their price target on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th.

View Our Latest Analysis on CCI

Crown Castle Stock Up 1.3%

CCI stock opened at $91.81 on Friday. The business has a 50 day moving average price of $92.81 and a 200 day moving average price of $98.02. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of -8.64, a PEG ratio of 0.67 and a beta of 0.94. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $115.76.

Crown Castle (NYSE:CCI – Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts anticipate that Crown Castle will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.6%. Crown Castle’s dividend payout ratio is -39.98%.

Insiders Place Their Bets

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently made changes to their positions in the business. Harbour Investments Inc. lifted its position in Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 107 shares during the period. Vanguard Group Inc. raised its stake in shares of Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Crown Castle during the first quarter worth $761,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock worth $543,264,000 after purchasing an additional 90,371 shares during the period. Finally, Deutsche Bank AG grew its position in Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after buying an additional 2,072,198 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

(Get Free Report)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.

Featured Articles