Crown Castle (NYSE:CCI) PT Lowered to $100.00 at Royal Bank of Canada

Crown Castle (NYSE:CCI) had its target price dropped by analysts at Royal Bank of Canada from $109.00 to $100.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 2.76% from the company’s previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group reduced their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets reduced their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Bank of America reduced their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 23rd. Finally, Scotiabank reduced their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $112.64.

Crown Castle Trading Up 1.2 %

Shares of NYSE CCI opened at $97.31 on Tuesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50 day moving average price is $101.99 and its 200-day moving average price is $105.63. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $119.60. The company has a market cap of $42.28 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.59 and a beta of 0.76.

Crown Castle (NYSE:CCI) last issued 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). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Crown Castle will post 6.59 earnings per share for the current year.

Institutional Trading of Crown Castle

Institutional investors have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Crown Castle in the 4th quarter worth $25,000. Rational Advisors LLC acquired a new stake in shares of Crown Castle in the 1st quarter worth $27,000. Operose Advisors LLC acquired a new stake in shares of Crown Castle in the 3rd quarter worth $30,000. Gables Capital Management Inc. boosted its position in shares of Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 164 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle in the 4th quarter worth $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.