Crown Castle International Corp. Rating Lowered to Sector Perform at Pacific Crest (CCI)
Crown Castle International Corp. (NYSE:CCI) was downgraded by Pacific Crest from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $102.00 target price on the stock. Pacific Crest’s price target would suggest a potential upside of 39.33% from the company’s current price.
Shares of Crown Castle International Corp. (NYSE:CCI) opened at 73.21 on Friday. Crown Castle International Corp. has a 52 week low of $66.73 and a 52 week high of $77.95. The stock’s 50-day moving average is $74.41 and its 200-day moving average is $74.27. The company has a market cap of $24.331 billion and a price-to-earnings ratio of 190.78.
Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.83 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.02 by $0.19. The company had revenue of $916.30 million for the quarter, compared to the consensus estimate of $873.26 million. During the same quarter last year, the company posted $0.18 earnings per share. Crown Castle International Corp.’s revenue was up 24.7% compared to the same quarter last year. Analysts expect that Crown Castle International Corp. will post $4.17 EPS for the current fiscal year.
A number of other firms have also recently commented on CCI. Analysts at Credit Suisse initiated coverage on shares of Crown Castle International Corp. in a research note on Friday, June 13th. They set a “neutral” rating and a $84.00 price target on the stock. Analysts at Zacks downgraded shares of Crown Castle International Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, May 9th. They now have a $81.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $87.20.
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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