Q1 2022 EPS Estimates for Crown Castle International Corp. (NYSE:CCI) Lowered by Analyst

Crown Castle International Corp. (NYSE:CCIGet Rating) – Analysts at Jefferies Financial Group cut their Q1 2022 earnings per share estimates for shares of Crown Castle International in a note issued to investors on Thursday, April 14th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.68 for the quarter, down from their prior estimate of $1.70. Jefferies Financial Group currently has a “Hold” rating and a $203.00 price objective on the stock. Jefferies Financial Group also issued estimates for Crown Castle International’s Q2 2022 earnings at $1.69 EPS, Q3 2022 earnings at $1.76 EPS, Q4 2022 earnings at $1.77 EPS, FY2022 earnings at $6.89 EPS and Q1 2023 earnings at $1.75 EPS.

Crown Castle International (NYSE:CCIGet Rating) last announced its quarterly earnings results on Tuesday, January 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. Crown Castle International had a net margin of 18.28% and a return on equity of 13.46%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis.

CCI has been the subject of several other reports. StockNews.com began coverage on shares of Crown Castle International in a report on Thursday, March 31st. They set a “buy” rating for the company. Raymond James upgraded shares of Crown Castle International from a “market perform” rating to an “outperform” rating and set a $184.00 price objective for the company in a research report on Friday, January 28th. JPMorgan Chase & Co. cut shares of Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 5th. Citigroup raised their price objective on shares of Crown Castle International from $200.00 to $204.00 in a research report on Thursday, January 27th. Finally, Barclays lowered their price target on shares of Crown Castle International from €222.00 ($241.30) to €214.00 ($232.61) in a research report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle International presently has a consensus rating of “Buy” and an average target price of $201.08.

Shares of CCI stock opened at $192.68 on Friday. Crown Castle International has a 12-month low of $157.16 and a 12-month high of $209.87. The company has a market capitalization of $83.44 billion, a P/E ratio of 72.17, a P/E/G ratio of 2.74 and a beta of 0.56. The firm has a 50-day moving average price of $177.06 and a 200 day moving average price of $182.12. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.49.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Crown Castle International by 15.3% in the fourth quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after purchasing an additional 4,919,828 shares in the last quarter. State Street Corp raised its position in Crown Castle International by 4.8% during the fourth quarter. State Street Corp now owns 19,664,166 shares of the real estate investment trust’s stock worth $4,104,698,000 after acquiring an additional 896,553 shares in the last quarter. Capital International Investors raised its position in Crown Castle International by 0.9% during the fourth quarter. Capital International Investors now owns 17,709,352 shares of the real estate investment trust’s stock worth $3,696,349,000 after acquiring an additional 154,919 shares in the last quarter. Morgan Stanley raised its position in Crown Castle International by 9.9% during the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock worth $1,860,558,000 after acquiring an additional 856,986 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Crown Castle International by 4.2% during the third quarter. Deutsche Bank AG now owns 8,803,180 shares of the real estate investment trust’s stock worth $1,525,767,000 after acquiring an additional 357,306 shares in the last quarter. 91.20% of the stock is currently owned by institutional investors and hedge funds.

In other Crown Castle International news, COO Catherine Piche sold 2,500 shares of Crown Castle International stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $176.41, for a total value of $441,025.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin A. Stephens purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was bought at an average cost of $162.30 per share, for a total transaction of $324,600.00. The disclosure for this purchase can be found here. 0.45% of the stock is currently owned by insiders.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, March 14th. Crown Castle International’s dividend payout ratio is currently 220.23%.

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 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.

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