Jefferies Financial Group Lowers Crown Castle International (NYSE:CCI) to Hold

Jefferies Financial Group cut shares of Crown Castle International (NYSE:CCI) from a buy rating to a hold rating in a research report sent to investors on Monday, Price Targets.com reports. Jefferies Financial Group currently has $203.00 price target on the real estate investment trust’s stock, down from their previous price target of $226.00. Jefferies Financial Group also issued estimates for Crown Castle International’s Q2 2022 earnings at $1.73 EPS and FY2022 earnings at $7.05 EPS.

A number of other analysts also recently issued reports on the company. Wolfe Research started coverage on Crown Castle International in a research note on Wednesday, October 13th. They issued an underperform rating and a $162.00 price objective on the stock. JPMorgan Chase & Co. downgraded Crown Castle International from an overweight rating to a neutral rating and set a $200.00 target price on the stock. in a research report on Wednesday, January 5th. Barclays boosted their target price on Crown Castle International from $215.00 to $221.00 and gave the company an overweight rating in a research report on Friday, October 22nd. Credit Suisse Group raised Crown Castle International from a neutral rating to an outperform rating and boosted their target price for the company from $192.00 to $195.00 in a research report on Tuesday, October 19th. Finally, KeyCorp dropped their price objective on Crown Castle International from $224.00 to $202.00 and set an overweight rating for the company in a report on Friday, October 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $197.69.

NYSE:CCI opened at $187.38 on Monday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.67 and a quick ratio of 0.67. Crown Castle International has a 1 year low of $146.15 and a 1 year high of $209.87. The stock’s 50 day simple moving average is $191.20 and its two-hundred day simple moving average is $189.60. The company has a market cap of $80.99 billion, a price-to-earnings ratio of 61.84, a PEG ratio of 2.66 and a beta of 0.46.

Crown Castle International (NYSE:CCI) last released its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. Crown Castle International had a return on equity of 14.75% and a net margin of 21.27%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $1.56 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Crown Castle International will post 6.58 EPS for the current year.

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

In related news, Director Kevin A. Stephens purchased 1,110 shares of Crown Castle International stock in a transaction dated Wednesday, October 27th. The stock was purchased at an average cost of $178.66 per share, with a total value of $198,312.60. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.45% of the company’s stock.

A number of large investors have recently made changes to their positions in CCI. Ten Capital Wealth Advisors LLC increased its position 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 valued at $27,000 after buying an additional 141 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in Crown Castle International during the 3rd quarter valued at about $36,000. Evermay Wealth Management LLC acquired a new position in Crown Castle International during the 2nd quarter valued at about $37,000. PSI Advisors LLC acquired a new position in Crown Castle International during the 3rd quarter valued at about $48,000. Finally, TCI Wealth Advisors Inc. increased its position in Crown Castle International by 41.4% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 280 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 82 shares in the last quarter. 89.79% of the stock is currently 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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Analyst Recommendations for Crown Castle International (NYSE:CCI)

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