BMO Capital Markets Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its target price decreased by BMO Capital Markets from $120.00 to $114.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential upside of 16.84% from the company’s previous close.

A number of other analysts have also recently weighed in on CCI. Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research note on Wednesday, October 8th. Scotiabank upped their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, UBS Group upped their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $114.06.

Crown Castle Stock Down 0.5%

NYSE CCI opened at $97.57 on Friday. The stock has a market cap of $42.49 billion, a P/E ratio of -9.14, a PEG ratio of 0.74 and a beta of 0.95. The company’s 50-day simple moving average is $97.40 and its 200 day simple moving average is $100.64. Crown Castle has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Research analysts anticipate that Crown Castle will post 6.67 earnings per share for the current year.

Hedge Funds Weigh In On Crown Castle

Large investors have recently modified their holdings of the stock. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle during the first quarter worth approximately $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth approximately $26,000. Winnow Wealth LLC acquired a new position in shares of Crown Castle during the second quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle during the first quarter worth approximately $27,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Crown Castle during the second quarter worth approximately $27,000. 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.