Raymond James Increases Crown Castle International (NYSE:CCI) Price Target to $206.00

Crown Castle International (NYSE:CCIGet Rating) had its price objective boosted by stock analysts at Raymond James from $184.00 to $206.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ price target would suggest a potential upside of 4.89% from the stock’s current price.

CCI has been the topic of a number of other reports. Bank of America raised their target price on shares of Crown Castle International from $200.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, January 3rd. Barclays lowered their price target on Crown Castle International from €222.00 ($238.71) to €214.00 ($230.11) in a research report on Friday, March 18th. Jefferies Financial Group cut Crown Castle International from a “buy” rating to a “hold” rating and cut their price objective for the stock from $226.00 to $203.00 in a research report on Monday, January 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle International from $209.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Finally, Morgan Stanley upped their price target on Crown Castle International from $207.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $205.62.

Shares of CCI stock opened at $196.40 on Friday. Crown Castle International has a fifty-two week low of $157.16 and a fifty-two week high of $209.87. The stock’s 50-day moving average is $178.90 and its two-hundred day moving average is $182.82. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $85.05 billion, a P/E ratio of 73.56, a PEG ratio of 2.74 and a beta of 0.56.

Crown Castle International (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Crown Castle International had a return on equity of 13.46% and a net margin of 18.28%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts expect that Crown Castle International will post 7.04 EPS for the current year.

In related news, COO Catherine Piche sold 2,500 shares of Crown Castle International stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $176.41, for a total transaction of $441,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin A. Stephens purchased 2,000 shares of Crown Castle International stock in a transaction on Tuesday, February 22nd. The stock was purchased at an average price 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 owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in shares of Crown Castle International during the first quarter worth $118,000. Morgan Stanley lifted its position in Crown Castle International by 9.9% during the 2nd quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock worth $1,860,558,000 after buying an additional 856,986 shares in the last quarter. GWM Advisors LLC grew its holdings in Crown Castle International by 19.4% during the 3rd quarter. GWM Advisors LLC now owns 1,421 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 231 shares during the last quarter. Whittier Trust Co. increased its position in Crown Castle International by 21.6% in the 3rd quarter. Whittier Trust Co. now owns 2,327 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 413 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of Crown Castle International by 0.5% in the third quarter. Royal London Asset Management Ltd. now owns 152,487 shares of the real estate investment trust’s stock worth $26,422,000 after acquiring an additional 691 shares during the last quarter. 91.20% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle International (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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