New Street Research Upgrades Crown Castle (NYSE:CCI) to "Strong-Buy"

Crown Castle (NYSE:CCI - Get Free Report) was upgraded by investment analysts at New Street Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. KeyCorp lifted their target price on Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Citizens Jmp raised shares of Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a report on Tuesday, March 25th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.47.

Crown Castle Trading Up 0.6 %

Shares of NYSE:CCI opened at $106.93 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock's 50-day moving average is $100.33 and its 200-day moving average is $98.18. The company has a market cap of $46.56 billion, a P/E ratio of 37.92 and a beta of 0.93. 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 earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $1.72 EPS. The business's quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts predict that Crown Castle will post 6.67 earnings per share for the current year.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in Crown Castle in the 1st quarter valued at $26,000. Iron Horse Wealth Management LLC bought a new position in Crown Castle in the 1st quarter valued at $26,000. American National Bank & Trust acquired a new stake in shares of Crown Castle in the 1st quarter valued at $29,000. Finally, FNY Investment Advisers LLC raised its position in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 300 shares during the last quarter. 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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