Crown Castle (NYSE:CCI) Given New $117.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target for Crown Castle from $115.00 to $117.00, indicating a potential upside of 19.72% from the current price, while maintaining a "neutral" rating on the stock.
• In addition to Goldman Sachs, several other brokerages have adjusted their target prices, with BMO Capital Markets lowering theirs to $114.00, and UBS Group increasing theirs to $127.00 with a "buy" rating.
• Crown Castle's earnings report showed a net margin decrease of 85.54% year-over-year, with a revenue of $1.06 billion, slightly above analyst expectations, but down 4.3% compared to the previous year.

Crown Castle (NYSE:CCI - Get Free Report) had its price objective hoisted by The Goldman Sachs Group from $115.00 to $117.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. The Goldman Sachs Group's target price would suggest a potential upside of 19.72% from the company's current price.

A number of other brokerages have also weighed in on CCI. BMO Capital Markets lowered their target price on Crown Castle from $120.00 to $114.00 and set an "outperform" rating on the stock in a research report on Friday, October 17th. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research report on Monday, September 22nd. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an "outperform" rating in a research report on Wednesday, October 1st. UBS Group increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Barclays increased their price target on Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.12.

Crown Castle Stock Performance

Shares of CCI opened at $97.73 on Thursday. Crown Castle has a 52-week low of $84.20 and a 52-week high of $115.76. The business's 50 day moving average price is $97.15 and its two-hundred day moving average price is $100.55. The firm has a market cap of $42.56 billion, a PE ratio of -9.16, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results 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 return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. Crown Castle'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. Research analysts predict that Crown Castle will post 6.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCI. Wilmington Savings Fund Society FSB raised its stake in Crown Castle by 0.9% during the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust's stock valued at $1,055,000 after buying an additional 93 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 98 shares during the last quarter. Harbour Investments Inc. raised its stake in Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 107 shares during the last quarter. Whittier Trust Co. raised its stake in Crown Castle by 5.6% during the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust's stock valued at $210,000 after buying an additional 109 shares during the last quarter. Finally, Abel Hall LLC raised its stake in shares of Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

About Crown Castle

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.

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