Q3 2024 Earnings Forecast for Crown Castle Inc. (NYSE:CCI) Issued By Zacks Research

Crown Castle Inc. (NYSE:CCI - Free Report) - Zacks Research lowered their Q3 2024 earnings estimates for Crown Castle in a note issued to investors on Wednesday, May 8th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $1.66 for the quarter, down from their prior estimate of $1.67. The consensus estimate for Crown Castle's current full-year earnings is $6.59 per share. Zacks Research also issued estimates for Crown Castle's Q4 2024 earnings at $1.70 EPS, FY2024 earnings at $6.58 EPS, Q1 2025 earnings at $1.58 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.60 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.32 EPS, Q1 2026 earnings at $1.58 EPS and FY2026 earnings at $6.48 EPS.

A number of other equities analysts have also weighed in on CCI. Bank of America lowered their price objective on shares of Crown Castle from $120.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company dropped their price target on shares of Crown Castle from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, April 19th. Barclays lifted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an "equal weight" rating in a report on Tuesday, April 23rd. BMO Capital Markets cut their target price on Crown Castle from $110.00 to $105.00 and set a "market perform" rating for the company in a research note on Thursday, April 18th. Finally, Argus downgraded Crown Castle from a "buy" rating to a "hold" rating in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $112.64.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.35 during trading on Friday, reaching $99.53. The company had a trading volume of 3,087,193 shares, compared to its average volume of 3,453,867. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The stock's fifty day moving average price is $101.57 and its 200 day moving average price is $105.53. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 2.56 and a beta of 0.76.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle's quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the company posted $1.91 EPS.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date was Thursday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently 195.63%.

Hedge Funds Weigh In On Crown Castle

Several hedge funds have recently bought and sold shares of CCI. Norges Bank purchased a new stake in Crown Castle during the 4th quarter worth about $581,503,000. The Manufacturers Life Insurance Company grew its holdings in shares of Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust's stock worth $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Barclays PLC raised its position in shares of Crown Castle by 217.9% in the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust's stock valued at $281,439,000 after buying an additional 2,096,272 shares during the last quarter. M&G Plc purchased a new position in shares of Crown Castle during the first quarter valued at approximately $221,573,000. Finally, Wellington Management Group LLP boosted its position in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust's stock worth $932,682,000 after acquiring an additional 1,818,910 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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.