Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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. For more information on Crown Castle, please visit www.crowncastle.com.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on CCI shares. Citigroup dropped their price objective on shares of Crown Castle International from $204.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, July 11th. Cowen decreased their price target on shares of Crown Castle International to $195.00 in a research note on Friday, July 22nd. Wells Fargo & Company reduced their target price on shares of Crown Castle International from $180.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 19th. KeyCorp reduced their price target on shares of Crown Castle International from $219.00 to $205.00 and set an "overweight" rating on the stock in a research note on Friday, July 1st. Finally, Credit Suisse Group reduced their price target on shares of Crown Castle International to $213.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $196.06.
Crown Castle International Stock Performance
Shares of NYSE:CCI traded up $2.80 on Friday, hitting $181.68. The company's stock had a trading volume of 1,090,999 shares, compared to its average volume of 1,297,697. Crown Castle International has a 12 month low of $153.70 and a 12 month high of $209.87. The company has a market capitalization of $78.67 billion, a price-to-earnings ratio of 51.03 and a beta of 0.58. The stock's 50-day moving average is $172.78 and its two-hundred day moving average is $177.78. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.71 and a current ratio of 0.69.
Crown Castle International (NYSE:CCI - Get Rating) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle International had a net margin of 22.91% and a return on equity of 18.93%. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Crown Castle International will post 7.03 EPS for the current year.
Crown Castle International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, September 14th. Crown Castle International's dividend payout ratio is 165.17%.
Insider Activity
In other Crown Castle International news, Director Kevin A. Stephens bought 699 shares of the stock in a transaction on Friday, July 22nd. The shares were purchased at an average price of $173.60 per share, with a total value of $121,346.40. Following the acquisition, the director now directly owns 10,703 shares of the company's stock, valued at approximately $1,858,040.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.