Crown Castle International (NYSE:CCI) Posts Earnings Results, Misses Expectations By $0.25 EPS


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Crown Castle International (NYSE:CCI) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.25), MarketWatch Earnings reports. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Crown Castle International had a net margin of 13.09% and a return on equity of 7.57%. Crown Castle International’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS.

Shares of CCI traded up $2.25 during trading hours on Thursday, hitting $185.14. 23,176 shares of the stock were exchanged, compared to its average volume of 2,238,035. Crown Castle International has a fifty-two week low of $146.15 and a fifty-two week high of $184.68. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $167.76 and a 200-day moving average of $162.69. The firm has a market capitalization of $80.02 billion, a P/E ratio of 114.31, a price-to-earnings-growth ratio of 1.18 and a beta of 0.30.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, March 12th. Crown Castle International’s payout ratio is currently 93.50%.

In other news, Director J Landis Martin acquired 500 shares of the firm’s stock in a transaction dated Monday, March 1st. The stock was bought at an average cost of $155.49 per share, for a total transaction of $77,745.00. Following the completion of the transaction, the director now directly owns 143,940 shares in the company, valued at approximately $22,381,230.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Jay Simon sold 6,000 shares of the stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $150.77, for a total transaction of $904,620.00. Following the sale, the executive vice president now owns 76,407 shares of the company’s stock, valued at $11,519,883.39. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 7,780 shares of company stock valued at $1,253,828 and have sold 14,796 shares valued at $2,270,261. Corporate insiders own 0.47% of the company’s stock.

Several equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Crown Castle International in a research note on Monday. They issued a “buy” rating and a $205.00 price objective for the company. Credit Suisse Group dropped their price objective on shares of Crown Castle International from $158.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, January 29th. Wolfe Research assumed coverage on shares of Crown Castle International in a research note on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Crown Castle International from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Thursday, January 14th. Finally, Raymond James dropped their price objective on shares of Crown Castle International from $172.00 to $169.00 and set an “outperform” rating for the company in a research note on Friday, January 29th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Crown Castle International has a consensus rating of “Buy” and an average price target of $179.75.

About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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 International (NYSE:CCI)

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