Wells Fargo & Company Lowers Crown Castle (NYSE:CCI) Price Target to $100.00

Crown Castle (NYSE:CCI) had its target price reduced by analysts at Wells Fargo & Company from $115.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.04% from the stock’s current price.

CCI has been the subject of several other research reports. BMO Capital Markets reduced their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday. Jefferies Financial Group decreased their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America decreased their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday. Ten equities 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 currently has a consensus rating of “Hold” and a consensus target price of $117.73.

Crown Castle Stock Up 0.9 %

Shares of NYSE:CCI opened at $95.20 on Friday. Crown Castle has a 52 week low of $84.72 and a 52 week high of $131.43. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The company has a market capitalization of $41.37 billion, a PE ratio of 29.75, a PEG ratio of 2.51 and a beta of 0.73. The company has a 50 day moving average price of $104.88 and a two-hundred day moving average price of $105.22.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 EPS. Analysts forecast that Crown Castle will post 6.59 earnings per share for the current year.

Hedge Funds Weigh In On Crown Castle

Hedge funds and other institutional investors have recently made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Crown Castle during the 4th quarter valued at approximately $25,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Crown Castle during the 2nd quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in Crown Castle during the 4th quarter worth approximately $30,000. Finally, Main Street Group LTD bought a new stake in Crown Castle during the 4th quarter worth approximately $30,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Crown Castle

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.