Crown Castle (NYSE:CCI) Releases Quarterly Earnings Results, Misses Expectations By $0.62 EPS

Crown Castle (NYSE:CCI) issued its earnings results on Wednesday. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.62), Zacks reports. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 EPS.

Crown Castle Price Performance

NYSE:CCI opened at $106.32 on Friday. The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 37.70 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $100.05 and a 200-day simple moving average of $98.23. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 5.89%. Crown Castle’s payout ratio is currently -58.18%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Bank of America began coverage on shares of Crown Castle in a research note on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, April 19th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.18.

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.