Crown Castle (NYSE:CCI) PT Lowered to $100.00

Crown Castle (NYSE:CCI) had its target price dropped by stock analysts at Wells Fargo & Company from $115.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.50% from the company’s current price.

A number of other analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Jefferies Financial Group cut their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets cut their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, Scotiabank cut their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $117.73.

Crown Castle Price Performance

Shares of NYSE CCI traded up $0.42 during midday trading on Friday, reaching $94.79. The company’s stock had a trading volume of 1,939,147 shares, compared to its average volume of 2,796,404. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a 50 day moving average price of $105.15 and a 200 day moving average price of $105.07. Crown Castle has a one year low of $84.72 and a one year high of $131.43. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 20.78% and a net margin of 20.32%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle will post 6.59 EPS for the current year.

Institutional Trading of Crown Castle

Large investors have recently added to or reduced their stakes in the business. Magnolia Capital Advisors LLC grew its holdings in Crown Castle by 3.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 73 shares during the last quarter. Summit Financial Group Inc. grew its holdings in Crown Castle by 5.5% during the 3rd quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 85 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Crown Castle by 2.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after acquiring an additional 86 shares during the last quarter. Townsend & Associates Inc grew its holdings in Crown Castle by 5.7% during the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 90 shares during the last quarter. Finally, Dakota Community Bank & Trust NA grew its holdings in Crown Castle by 4.2% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 90 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

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.