$1.63 Billion in Sales Expected for Crown Castle International Corp. (REIT) (NYSE:CCI) This Quarter

Analysts expect Crown Castle International Corp. (REIT) (NYSE:CCI) to post $1.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Crown Castle International’s earnings. The highest sales estimate is $1.64 billion and the lowest is $1.61 billion. Crown Castle International posted sales of $1.49 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The company 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 $6.30 billion to $6.33 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.70 billion, with estimates ranging from $6.59 billion to $6.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Crown Castle International.

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

CCI has been the topic of a number of research reports. Barclays upped their target price on Crown Castle International from $215.00 to $221.00 and gave the company an “overweight” rating in a report on Friday, October 22nd. Royal Bank of Canada dropped their target price on Crown Castle International from $210.00 to $202.00 and set an “outperform” rating on the stock in a report on Monday, October 25th. KeyCorp dropped their price objective on Crown Castle International from $224.00 to $202.00 and set an “overweight” rating on the stock in a report on Friday, October 22nd. Bank of America increased their price objective on Crown Castle International from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, January 3rd. Finally, JPMorgan Chase & Co. downgraded Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $197.69.

Shares of CCI traded down $2.04 during trading hours on Thursday, reaching $187.38. The company’s stock had a trading volume of 1,589,747 shares, compared to its average volume of 2,221,735. The firm has a market cap of $80.99 billion, a price-to-earnings ratio of 61.84, a P/E/G ratio of 2.66 and a beta of 0.46. Crown Castle International has a 1-year low of $146.15 and a 1-year high of $209.87. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.38. The company has a 50 day moving average of $191.20 and a two-hundred day moving average of $189.60.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, December 14th. This represents a $5.88 dividend on an annualized basis and a yield of 3.14%. This is a boost from Crown Castle International’s previous quarterly dividend of $1.33. Crown Castle International’s dividend payout ratio is presently 194.06%.

In related news, Director Kevin A. Stephens bought 1,110 shares of the firm’s stock in a transaction on Wednesday, October 27th. The stock was purchased at an average price of $178.66 per share, with a total value of $198,312.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Crown Castle International by 0.9% in the second quarter. Vanguard Group Inc. now owns 55,371,690 shares of the real estate investment trust’s stock valued at $10,803,017,000 after acquiring an additional 475,386 shares during the period. BlackRock Inc. boosted its position in shares of Crown Castle International by 3.3% in the third quarter. BlackRock Inc. now owns 32,091,049 shares of the real estate investment trust’s stock valued at $5,562,022,000 after acquiring an additional 1,033,960 shares during the period. Capital International Investors raised its stake in shares of Crown Castle International by 3.7% in the second quarter. Capital International Investors now owns 18,362,162 shares of the real estate investment trust’s stock valued at $3,583,231,000 after purchasing an additional 658,562 shares in the last quarter. State Street Corp raised its stake in shares of Crown Castle International by 2.8% in the second quarter. State Street Corp now owns 17,951,994 shares of the real estate investment trust’s stock valued at $3,502,434,000 after purchasing an additional 487,139 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Crown Castle International by 9.9% in the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock valued at $1,860,558,000 after purchasing an additional 856,986 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

About Crown Castle International

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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