Crown Castle (NYSE:CCI) Upgraded at Royal Bank Of Canada

Key Points

• Crown Castle was upgraded by Royal Bank Of Canada from a "sector perform" to an "outperform" rating, with a target price of $112.00, indicating a potential upside of 17.24% from the current stock price.
• Analysts have a consensus rating of "Moderate Buy" for Crown Castle, with 3 Strong Buy, 11 Buy, and 5 Hold ratings, and an average price target of $115.76.
• The company reported $1.02 EPS for the latest quarter, exceeding estimates, although revenue was down 4.2% year-over-year at $1.06 billion.

Crown Castle (NYSE:CCI - Get Free Report) was upgraded by analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $112.00 target price on the real estate investment trust's stock. Royal Bank Of Canada's price objective points to a potential upside of 17.24% from the stock's current price.

CCI has been the topic of several other reports. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $115.76.

Crown Castle Stock Down 0.2%

Shares of CCI stock opened at $95.53 on Wednesday. The company's fifty day simple moving average is $99.68 and its 200-day simple moving average is $101.21. The firm has a market cap of $41.60 billion, a PE ratio of -8.95, a P/E/G ratio of 0.73 and a beta of 0.95. Crown Castle has a 12 month low of $84.20 and a 12 month high of $115.89.

Crown Castle (NYSE:CCI - Get Free Report) last announced 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm's revenue for the quarter 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. On average, equities analysts predict that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crown Castle

Several large investors have recently modified their holdings of CCI. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at about $26,000. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at about $26,000. Winnow Wealth LLC acquired a new position in shares of Crown Castle in the second quarter valued at about $26,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the first quarter valued at about $27,000. 90.77% of the stock is owned by institutional investors.

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.