Crown Castle International Corp. (NYSE:CCI) to Post Q3 2022 Earnings of $1.77 Per Share, KeyCorp Forecasts

Crown Castle International Corp. (NYSE:CCIGet Rating) – Equities researchers at KeyCorp reduced their Q3 2022 earnings estimates for shares of Crown Castle International in a research report issued on Thursday, April 21st. KeyCorp analyst B. Nispel now expects that the real estate investment trust will post earnings per share of $1.77 for the quarter, down from their previous estimate of $1.78. KeyCorp currently has a “Overweight” rating and a $219.00 target price on the stock.

A number of other equities analysts also recently commented on CCI. Credit Suisse Group boosted their price objective on Crown Castle International from $204.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle International from $209.00 to $204.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Barclays lowered their price target on Crown Castle International from €222.00 ($238.71) to €214.00 ($230.11) in a report on Friday, March 18th. Jefferies Financial Group downgraded Crown Castle International from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $203.00 in a report on Monday, January 10th. Finally, Bank of America upped their price target on Crown Castle International from $200.00 to $224.00 and gave the company a “buy” rating in a report on Monday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $205.62.

Shares of Crown Castle International stock opened at $194.14 on Monday. Crown Castle International has a one year low of $157.16 and a one year high of $209.87. The company has a market cap of $84.07 billion, a PE ratio of 57.78, a P/E/G ratio of 2.79 and a beta of 0.56. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.62 and a current ratio of 0.71. The business has a 50-day simple moving average of $179.43 and a 200-day simple moving average of $183.10.

Crown Castle International (NYSE:CCIGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Crown Castle International had a return on equity of 17.40% and a net margin of 22.12%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in Crown Castle International by 2.0% during the first quarter. Truist Financial Corp now owns 1,559,798 shares of the real estate investment trust’s stock worth $287,939,000 after acquiring an additional 31,253 shares during the period. Louisiana State Employees Retirement System grew its holdings in Crown Castle International by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the real estate investment trust’s stock worth $5,403,000 after acquiring an additional 200 shares during the period. Vantage Investment Partners LLC grew its holdings in Crown Castle International by 4.3% during the first quarter. Vantage Investment Partners LLC now owns 58,401 shares of the real estate investment trust’s stock worth $10,781,000 after acquiring an additional 2,415 shares during the period. Bogart Wealth LLC grew its holdings in Crown Castle International by 16.6% during the first quarter. Bogart Wealth LLC now owns 40,319 shares of the real estate investment trust’s stock worth $7,443,000 after acquiring an additional 5,734 shares during the period. Finally, Grove Bank & Trust grew its holdings in Crown Castle International by 10.2% during the first quarter. Grove Bank & Trust now owns 6,450 shares of the real estate investment trust’s stock worth $1,191,000 after acquiring an additional 598 shares during the period. Institutional investors and hedge funds own 91.20% of the company’s stock.

In other news, COO Catherine Piche sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $176.41, for a total transaction of $441,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin A. Stephens purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were bought at an average price of $162.30 per share, with a total value 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. Shareholders of record on Tuesday, March 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 14th. Crown Castle International’s dividend payout ratio is currently 175.00%.

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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