Crown Castle (NYSE:CCI) Price Target Lowered to $120.00 at KeyCorp

Key Points

• Crown Castle's price target has been decreased by KeyCorp from $125.00 to $120.00, while still maintaining an "overweight" rating, indicating potential upside of 28.27% from current levels.
• Other analysts have varied outlooks, with Raymond James and Wells Fargo setting price targets of $124.00 and $125.00 respectively, with the average target now at $116.18.
• The company reported earnings per share of $1.02 for the latest quarter, exceeding expectations, though its revenue was down 4.2% year-over-year.

Crown Castle (NYSE:CCI - Get Free Report) had its target price lowered by KeyCorp from $125.00 to $120.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. KeyCorp's price objective points to a potential upside of 28.21% from the stock's previous close.

CCI has been the topic of a number of other research reports. JMP Securities restated a "market outperform" rating and set a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. UBS Group lifted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Finally, Scotiabank lifted their target price on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Trading Up 0.7%

Shares of CCI traded up $0.64 during midday trading on Wednesday, reaching $93.60. 5,261,530 shares of the company were exchanged, compared to its average volume of 3,761,189. The stock has a 50-day moving average price of $101.75 and a 200-day moving average price of $101.42. The company has a market cap of $40.76 billion, a price-to-earnings ratio of -8.77, a P/E/G ratio of 0.71 and a beta of 0.92. Crown Castle has a 1-year low of $84.20 and a 1-year high of $119.56.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities research analysts anticipate that Crown Castle will post 6.67 earnings per share for the current year.

Hedge Funds Weigh In On Crown Castle

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB boosted its position in shares of 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 worth $1,055,000 after buying an additional 93 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of 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 worth $31,000 after buying an additional 98 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of Crown Castle by 3.0% during the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after buying an additional 104 shares during the period. Harbour Investments Inc. boosted its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares during the period. Finally, Whittier Trust Co. boosted its position in shares of 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 worth $210,000 after buying an additional 109 shares during the period. 90.77% of the stock is owned by institutional investors.

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.