Crown Castle (NYSE:CCI) Price Target Lowered to $123.00 at Jefferies Financial Group

Crown Castle (NYSE:CCI) had its price objective cut by equities research analysts at Jefferies Financial Group from $126.00 to $123.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 29.12% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CCI. Scotiabank cut their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday. BMO Capital Markets cut their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday. Finally, Royal Bank of Canada raised their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $117.73.

Crown Castle Stock Performance

NYSE:CCI opened at $95.26 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. Crown Castle has a 12-month low of $84.72 and a 12-month high of $131.43. The stock has a 50-day moving average price of $104.88 and a 200 day moving average price of $105.10. The stock has a market capitalization of $41.39 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. Equities research analysts forecast that Crown Castle will post 6.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Crown Castle

Institutional investors and hedge funds have recently modified their holdings of the business. Riverview Trust Co lifted its stake in shares of Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Crown Castle during the 4th quarter worth approximately $25,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle during the 3rd quarter worth approximately $28,000. PCA Investment Advisory Services Inc. purchased a new position in Crown Castle during the 2nd quarter worth $29,000. Finally, Operose Advisors LLC purchased a new position in Crown Castle during the 3rd quarter worth $30,000. 90.77% of the stock is owned by institutional investors.

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.