$1.62 Billion in Sales Expected for Crown Castle International Corp. (REIT) (NYSE:CCI) This Quarter

Brokerages forecast that Crown Castle International Corp. (REIT) (NYSE:CCI) will report sales of $1.62 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Crown Castle International’s earnings. The lowest sales estimate is $1.61 billion and the highest is $1.64 billion. Crown Castle International reported sales of $1.49 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, January 26th.

According to Zacks, analysts expect that Crown Castle International will report full year sales of $6.31 billion for the current year, with estimates ranging from $6.26 billion to $6.33 billion. For the next financial year, analysts expect that the business will report sales of $6.64 billion, with estimates ranging from $6.52 billion to $6.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Crown Castle International.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Crown Castle International had a net margin of 21.27% and a return on equity of 14.75%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $1.56 EPS. The company’s revenue was up 8.4% on a year-over-year basis.

A number of research analysts recently issued reports on the stock. Credit Suisse Group upgraded shares of Crown Castle International from a “neutral” rating to an “outperform” rating and raised their target price for the company from $192.00 to $195.00 in a research note on Tuesday, October 19th. KeyCorp cut their price target on shares of Crown Castle International from $224.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, October 22nd. Wolfe Research assumed coverage on shares of Crown Castle International in a report on Wednesday, October 13th. They set an “underperform” rating and a $162.00 price target for the company. Royal Bank of Canada dropped their target price on shares of Crown Castle International from $210.00 to $202.00 and set an “outperform” rating for the company in a research note on Monday, October 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Crown Castle International from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, September 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $196.08.

In other Crown Castle International news, Director Kevin A. Stephens acquired 1,110 shares of the company’s stock in a transaction that occurred on Wednesday, October 27th. The stock was acquired at an average price of $178.66 per share, for a total transaction of $198,312.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Ten Capital Wealth Advisors LLC boosted its holdings in Crown Castle International by 1,007.1% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 155 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 141 shares during the last quarter. Red Door Wealth Management LLC bought a new stake in shares of Crown Castle International during the second quarter valued at about $32,000. Clearview Wealth Advisors LLC increased its position in shares of Crown Castle International by 50.0% during the second quarter. Clearview Wealth Advisors LLC now owns 168 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 56 shares during the period. Bell Investment Advisors Inc bought a new stake in shares of Crown Castle International during the third quarter valued at about $36,000. Finally, Evermay Wealth Management LLC purchased a new position in shares of Crown Castle International during the second quarter worth about $37,000. 90.15% of the stock is owned by institutional investors.

Shares of Crown Castle International stock traded up $0.12 during midday trading on Friday, reaching $180.78. 1,080,297 shares of the company’s stock traded hands, compared to its average volume of 1,944,331. The company has a market cap of $78.13 billion, a price-to-earnings ratio of 59.66, a price-to-earnings-growth ratio of 2.75 and a beta of 0.41. The company’s 50 day simple moving average is $180.29 and its 200 day simple moving average is $188.73. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.66 and a current ratio of 0.67. Crown Castle International has a 52 week low of $146.15 and a 52 week high of $204.62.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th will be paid a $1.47 dividend. This is an increase from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, December 14th. Crown Castle International’s dividend payout ratio (DPR) is presently 175.58%.

Crown Castle International Company Profile

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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Earnings History and Estimates for Crown Castle International (NYSE:CCI)

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