JPMorgan Chase & Co. Lowers Crown Castle (NYSE:CCI) Price Target to $115.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Crown Castle from $120.00 to $115.00, maintaining a "neutral" rating on the stock.
• Despite the price target reduction, this indicates a potential upside of 17.68% from the current stock price.
• Crown Castle reported earnings of $1.12 per share for the last quarter, which exceeded analyst expectations, but its quarterly revenue was down 4.3% year-over-year.

Crown Castle (NYSE:CCI - Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $120.00 to $115.00 in a report released on Thursday,MarketScreener reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 17.68% from the stock's current price.

A number of other analysts have also recently weighed in on CCI. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Citigroup dropped their target price on shares of Crown Castle from $124.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, October 16th. BMO Capital Markets dropped their target price on shares of Crown Castle from $120.00 to $114.00 and set an "outperform" rating on the stock in a report on Friday, October 17th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Finally, Barclays increased their target price 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 given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of "Moderate Buy" and an average target price of $113.12.

Crown Castle Trading Up 0.0%

Shares of CCI stock opened at $97.73 on Thursday. The company has a market capitalization of $42.56 billion, a PE ratio of -9.16, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95. The firm has a fifty day simple moving average of $97.15 and a 200-day simple moving average of $100.55. Crown Castle has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities research analysts predict that Crown Castle will post 6.67 EPS for the current year.

Hedge Funds Weigh In On Crown Castle

Large investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the first quarter worth about $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the first quarter worth about $26,000. Winnow Wealth LLC acquired a new position in shares of Crown Castle in the second quarter worth about $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the first quarter worth about $27,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the second quarter worth approximately $27,000. Institutional investors 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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