Crown Castle International Corp. (CCI) Announces Quarterly Results
Crown Castle International Corp. (NYSE:CCI) released its earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.23, Analyst Ratings Net reports. The company had revenue of $798.00 million for the quarter, compared to the consensus estimate of $745.51 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis.
A number of research firms have recently commented on CCI. Analysts at Zacks reiterated a “neutral” rating on shares of Crown Castle International Corp. in a research note to investors on Tuesday, January 14th. They now have a $75.00 price target on the stock. On a related note, analysts at Jefferies Group initiated coverage on shares of Crown Castle International Corp. in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $90.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Crown Castle International Corp. in a research note to investors on Wednesday, December 18th. They set a “neutral” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $84.57.
Shares of Crown Castle International Corp. (NYSE:CCI) opened at 73.77 on Thursday. Crown Castle International Corp. has a 52 week low of $66.13 and a 52 week high of $81.16. The stock’s 50-day moving average is $73.0 and its 200-day moving average is $72.77. The company has a market cap of $24.246 billion and a price-to-earnings ratio of 230.99.
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).
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