Crown Castle (NYSE:CCI) Upgraded by BMO Capital Markets to Outperform Rating

Key Points

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Crown Castle (NYSE:CCI - Get Free Report) was upgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research note issued on Tuesday,Benzinga reports. The firm currently has a $120.00 target price on the real estate investment trust's stock, up from their prior target price of $115.00. BMO Capital Markets' price target would indicate a potential upside of 19.43% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. UBS Group increased their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Barclays dropped their target price on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Stock Performance

NYSE:CCI opened at $100.48 on Tuesday. The company has a 50-day moving average of $103.59 and a 200-day moving average of $100.42. The company has a market capitalization of $43.75 billion, a price-to-earnings ratio of -9.42, a PEG ratio of 0.77 and a beta of 0.89. 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 released 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Sell-side analysts forecast that Crown Castle will post 6.67 EPS for the current year.

Institutional Investors Weigh In On Crown Castle

Institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB grew its holdings 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 purchasing an additional 93 shares during the period. Creative Financial Designs Inc. ADV grew its holdings 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 purchasing an additional 98 shares during the period. CHICAGO TRUST Co NA grew its holdings in 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 valued at $368,000 after purchasing an additional 104 shares during the period. Harbour Investments Inc. grew its holdings 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 purchasing an additional 107 shares during the period. Finally, Whittier Trust Co. grew its holdings 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 purchasing an additional 109 shares during the period. 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.

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