Crown Castle International Corp. Stock Rating Reaffirmed by Zacks (CCI)
Crown Castle International Corp. (NYSE:CCI)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Tuesday, American Banking News reports. They currently have a $76.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 4.90% from the company’s current price.
Zacks‘ analyst wrote, “Crown Castle reported improved year-over year earnings and revenues in second-quarter 2013, outpacing the Zacks Consensus Estimate. The company is expected to continue its momentum going forward. Higher smartphone and tablet usage coupled with increased deployment of 4G LTE networks and acquisition of towers from T-Mobile USA will act as tailwinds for the company in the near future. Moreover, company’s recent decision to convert its business into REIT will not only drive its tax savings but will also create long-term shareholders wealth in terms of higher dividends. However, a highly leveraged balance sheet and the ongoing merger talks between large telecom carriers may act as headwinds for the company in the long term. Moreover, the stock price is highly valued at current levels. “
A number of other analysts have also recently weighed in on CCI. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Crown Castle International Corp. (NYSE:CCI) in a research note to investors on Friday. They now have a $82.00 price target on the stock, down previously from $90.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Crown Castle International Corp. (NYSE:CCI) in a research note to investors on Wednesday, July 31st. They now have a $74.00 price target on the stock, down previously from $85.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Crown Castle International Corp. (NYSE:CCI) in a research note to investors on Wednesday, July 24th. They now have a $90.00 price target on the stock.
Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Crown Castle International Corp. presently has a consensus rating of “Buy” and a consensus target price of $83.00.
Shares of Crown Castle International Corp. (NYSE:CCI) traded up 0.79% during mid-day trading on Tuesday, hitting $73.02. The stock had a trading volume of 1,061,740 shares. Crown Castle International Corp. has a one year low of $63.16 and a one year high of $81.16. The stock’s 50-day moving average is $70.25 and its 200-day moving average is $72.23. The company has a market cap of $21.265 billion and a price-to-earnings ratio of 238.32.
Crown Castle International Corp. (NYSE:CCI) last announced its earnings results on Wednesday, July 24th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.01. The company had revenue of $735.00 million for the quarter, compared to the consensus estimate of $720.57 million. During the same quarter last year, the company posted $0.40 earnings per share. Crown Castle International Corp.’s revenue was up 25.4% compared to the same quarter last year. On average, analysts predict that Crown Castle International Corp. will post $0.56 earnings per share for the current fiscal year.
Crown Castle International Corp. (NYSE:CCI) owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers); distributed antenna systems (DAS)(each such system is a network of antennas for the benefit of wireless carriers and is connected by fiber to communication hubs designed to facilitate wireless communications), and interests in land under third party towers in various forms (third party land interests) (unless the context otherwise suggests or requires, references herein to wireless infrastructure include towers, DAS and third party land interests).
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.