Crown Castle (CCI) to Release Earnings on Wednesday

Crown Castle (NYSE:CCIGet Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, July 17th. Analysts expect the company to announce earnings of $1.56 per share for the quarter. Crown Castle has set its FY24 guidance at $6.85-$6.97 EPS and its FY 2024 guidance at 6.850-6.970 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Crown Castle (NYSE:CCIGet Free Report) last issued its 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates 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, analysts expect Crown Castle to post $7 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Crown Castle Trading Up 0.5 %

Shares of CCI opened at $97.06 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The firm’s 50-day moving average is $98.65 and its two-hundred day moving average is $103.72. Crown Castle has a twelve month low of $84.72 and a twelve month high of $119.50. The firm has a market capitalization of $42.17 billion, a P/E ratio of 30.33, a PEG ratio of 2.55 and a beta of 0.83.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.45%. Crown Castle’s payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Royal Bank of Canada cut their price target on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 7th. Raymond James reaffirmed an “outperform” rating and set a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group started coverage on shares of Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. Finally, Bank of America dropped their price objective 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, April 19th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.53.

Get Our Latest Analysis on CCI

Crown Castle Company Profile

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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.

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Earnings History for Crown Castle (NYSE:CCI)

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