Crown Castle (NYSE:CCI) Upgraded to “Outperform” at Royal Bank Of Canada

Crown Castle (NYSE:CCI) was upgraded by analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a $112.00 price objective on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 17.24% from the stock’s current price.

Several other equities analysts have also recently commented on CCI. BMO Capital Markets upgraded Crown Castle from a “market perform” rating to an “outperform” rating and increased their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. UBS Group increased their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. KeyCorp reduced their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Finally, Scotiabank increased their target price on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Stock Down 0.2%

Shares of NYSE:CCI opened at $95.53 on Wednesday. Crown Castle has a 52-week low of $84.20 and a 52-week high of $115.89. The company has a 50 day moving average of $99.68 and a two-hundred day moving average of $101.21. The company has a market capitalization of $41.60 billion, a price-to-earnings ratio of -8.95, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95.

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

Institutional Investors Weigh In On Crown Castle

A number of hedge funds have recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC bought a new stake in Crown Castle in the first quarter valued at $26,000. Iron Horse Wealth Management LLC bought a new stake in Crown Castle in the first quarter valued at $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle in the first quarter valued at $26,000. Winnow Wealth LLC bought a new stake in Crown Castle in the second quarter valued at $26,000. Finally, Stone House Investment Management LLC bought a new stake in Crown Castle in the first quarter valued at $27,000. 90.77% of the stock is currently 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.