Crown Castle (NYSE:CCI) Given New $120.00 Price Target at Barclays

Key Points

• Barclays has raised Crown Castle's price target from $119.00 to $120.00, indicating a potential upside of 25.76% from the stock's previous close.
• Institutional investors hold 90.77% of Crown Castle's stock, highlighting strong institutional interest and confidence in the company.
• Crown Castle's recent earnings report showed a 4.2% decline in revenue year-over-year, despite beating earnings expectations with $1.02 EPS compared to an estimate of $1.00.

Crown Castle (NYSE:CCI - Get Free Report) had its target price increased by equities researchers at Barclays from $119.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target would suggest a potential upside of 25.76% from the stock's previous close.

Several other equities analysts have also recently issued reports on CCI. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Bank of America started coverage on Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Royal Bank Of Canada raised their target price on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, KeyCorp raised their target price on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and an average price target of $116.47.

Crown Castle Stock Performance

Shares of CCI stock opened at $95.42 on Monday. The stock's fifty day moving average is $102.67 and its 200-day moving average is $101.51. The stock has a market capitalization of $41.55 billion, a PE ratio of -8.94, a PEG ratio of 0.72 and a beta of 0.92. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts forecast that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crown Castle

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter valued at about $26,000. Iron Horse Wealth Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $26,000. Winnow Wealth LLC acquired a new stake in Crown Castle in the 2nd quarter valued at approximately $26,000. Finally, Stone House Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $27,000. 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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