Crown Castle (CCI) – Analysts’ Weekly Ratings Updates

Crown Castle (NYSE: CCI) recently received a number of ratings updates from brokerages and research firms:

• 4/19/2024 – Crown Castle had its price target lowered by analysts at Bank of America Co. from $120.00 to $105.00. They now have a “neutral” rating on the stock.
• 4/19/2024 – Crown Castle was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
• 4/19/2024 – Crown Castle had its price target lowered by analysts at Wells Fargo & Company from $115.00 to $100.00. They now have an “equal weight” rating on the stock.
• 4/18/2024 – Crown Castle had its price target lowered by analysts at Scotiabank from $133.00 to $118.00. They now have a “sector perform” rating on the stock.
• 4/18/2024 – Crown Castle had its price target lowered by analysts at BMO Capital Markets from $110.00 to $105.00. They now have a “market perform” rating on the stock.
• 4/18/2024 – Crown Castle had its price target lowered by analysts at Jefferies Financial Group Inc. from $126.00 to $123.00. They now have a “buy” rating on the stock.

Crown Castle Stock Performance

Crown Castle stock opened at $95.20 on Monday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The stock has a fifty day moving average price of $104.88 and a two-hundred day moving average price of $105.33. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $131.43. The firm has a market capitalization of $41.37 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.54 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $1.91 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is 195.63%.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its holdings in Crown Castle by 3.4% during the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock worth $505,000 after buying an additional 91 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Crown Castle by 33.4% during the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock worth $730,000 after buying an additional 991 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Crown Castle by 4,497.6% during the first quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after buying an additional 5,577 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Crown Castle by 12.3% during the first quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 525 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Crown Castle by 205.9% during the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 591 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

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.