Crown Castle International (NYSE:CCI – Get Rating) had its target price trimmed by KeyCorp from $219.00 to $205.00 in a research report published on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Crown Castle International’s Q3 2022 earnings at $1.76 EPS, Q4 2022 earnings at $1.79 EPS, Q1 2023 earnings at $1.84 EPS, Q2 2023 earnings at $1.80 EPS, Q3 2023 earnings at $1.87 EPS and Q4 2023 earnings at $1.94 EPS.
Several other research analysts have also recently weighed in on the stock. Raymond James raised their price target on shares of Crown Castle International from $184.00 to $206.00 and gave the company an outperform rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft cut shares of Crown Castle International from a buy rating to a hold rating and reduced their price target for the company from $204.00 to $183.00 in a report on Tuesday. Barclays reduced their price target on shares of Crown Castle International from €222.00 ($236.17) to €214.00 ($227.66) in a report on Friday, March 18th. Wells Fargo & Company cut shares of Crown Castle International from an equal weight rating to an underweight rating and set a $180.00 price target for the company. in a report on Thursday, June 2nd. Finally, Jefferies Financial Group upgraded shares of Crown Castle International from a hold rating to a buy rating and raised their price target for the company from $191.00 to $200.00 in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $200.00.
Shares of NYSE:CCI opened at $172.36 on Friday. Crown Castle International has a 52 week low of $153.70 and a 52 week high of $209.87. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $74.64 billion, a PE ratio of 51.30 and a beta of 0.53. The company has a 50 day moving average price of $177.78 and a two-hundred day moving average price of $181.84.
Crown Castle International (NYSE: CCI – Get Rating) last issued its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Crown Castle International had a net margin of 22.12% and a return on equity of 17.40%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm earned $1.71 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Crown Castle International will post 7.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, June 14th. Crown Castle International’s payout ratio is 175.00%.
In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of Crown Castle International stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $191.02, for a total transaction of $955,100.00. Following the completion of the transaction, the executive vice president now owns 73,670 shares in the company, valued at $14,072,443.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $185.44, for a total value of $185,440.00. Following the completion of the sale, the vice president now owns 10,082 shares in the company, valued at approximately $1,869,606.08. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $3,261,230 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Amalgamated Bank boosted its position in Crown Castle International by 4.7% during the first quarter. Amalgamated Bank now owns 114,549 shares of the real estate investment trust’s stock worth $21,146,000 after purchasing an additional 5,142 shares during the period. Westbourne Investment Advisors Inc. acquired a new stake in shares of Crown Castle International during the 1st quarter worth about $212,000. JW Cole Advisors Inc. boosted its holdings in shares of Crown Castle International by 3.0% during the 1st quarter. JW Cole Advisors Inc. now owns 3,066 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 89 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Crown Castle International by 22.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,683 shares of the real estate investment trust’s stock valued at $23,201,000 after buying an additional 23,381 shares during the last quarter. Finally, ESG Planning bought a new position in Crown Castle International in the 1st quarter valued at about $562,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Crown Castle International Company Profile: (Get Rating)
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 US 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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