Crown Castle (NYSE:CCI) Price Target Cut to $115.00 by Analysts at Wells Fargo & Company

Key Points

• Crown Castle had its price target reduced by Wells Fargo from $125.00 to $115.00, while still maintaining an "overweight" rating for the stock.
• Other analysts have varied opinions, with Citigroup lowering its target to $110.00 and JPMorgan raising it to $120.00.
• Crown Castle reported earnings of $1.02 per share for the last quarter, exceeding estimates, but with a year-over-year revenue decline of 4.2%.

Crown Castle (NYSE:CCI - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $125.00 to $115.00 in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential upside of 17.83% from the company's current price.

A number of other research firms also recently commented on CCI. Citigroup decreased their target price on Crown Castle from $124.00 to $110.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. UBS Group boosted their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Crown Castle in a research note on Wednesday, October 8th. Finally, Barclays boosted their price target on shares of Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.44.

Crown Castle Price Performance

CCI opened at $97.60 on Monday. The business's 50-day moving average is $97.40 and its two-hundred day moving average is $100.59. Crown Castle has a 1 year low of $84.20 and a 1 year high of $115.76. The firm has a market capitalization of $42.50 billion, a PE ratio of -9.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last posted its 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, sell-side analysts expect that Crown Castle will post 6.67 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC acquired a new position in Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC purchased a new position in Crown Castle during the 1st quarter valued at about $26,000. Winnow Wealth LLC purchased a new position in Crown Castle during the 2nd quarter valued at about $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle during the 1st quarter valued at about $27,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Crown Castle during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Company Profile

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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