Crown Castle (NYSE:CCI) PT Lowered to $123.00

Crown Castle (NYSE:CCI) had its price target dropped by research analysts at Jefferies Financial Group from $126.00 to $123.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 29.12% from the stock’s current price.

A number of other brokerages also recently issued reports on CCI. BMO Capital Markets reduced their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday. Scotiabank reduced their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.73.

Crown Castle Trading Up 0.9 %

NYSE CCI opened at $95.26 on Thursday. The firm has a market capitalization of $41.39 billion, a P/E ratio of 29.77, a PEG ratio of 2.51 and a beta of 0.73. The business has a fifty day simple moving average of $104.88 and a 200 day simple moving average of $105.10. Crown Castle has a 12 month low of $84.72 and a 12 month high of $131.43. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. On average, analysts predict that Crown Castle will post 6.59 EPS for the current fiscal year.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently modified their holdings of CCI. Riverview Trust Co raised its holdings in shares of Crown Castle by 108.5% in the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle in the 4th quarter valued at about $25,000. Almanack Investment Partners LLC. purchased a new stake in shares of Crown Castle in the 3rd quarter valued at about $28,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Crown Castle in the 2nd quarter valued at about $29,000. Finally, Operose Advisors LLC purchased a new position in shares of Crown Castle during the 3rd quarter valued at about $30,000. Hedge funds and other 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.