Insider Selling: James D. Young Unloads 8,665 Shares of Crown Castle International Corp. Stock (CCI)
Crown Castle International Corp. (NYSE:CCI) COO James D. Young sold 8,665 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $77.58, for a total value of $672,230.70. Following the completion of the transaction, the chief operating officer now directly owns 212,345 shares in the company, valued at approximately $16,473,725. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Crown Castle International Corp. in a research note on Friday, July 25th. They now have a $87.00 price target on the stock, up previously from $85.00. Separately, analysts at Pacific Crest downgraded shares of Crown Castle International Corp. from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 25th. They now have a $102.00 price target on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $87.89.
Crown Castle International Corp. (NYSE:CCI) traded up 0.17% on Wednesday, hitting $77.65. The stock had a trading volume of 2,200,596 shares. Crown Castle International Corp. has a 52-week low of $66.89 and a 52-week high of $78.56. The stock has a 50-day moving average of $74.81 and a 200-day moving average of $74.50. The company has a market cap of $25.806 billion and a price-to-earnings ratio of 200.31. Crown Castle International Corp. also saw unusually large options trading on Wednesday. Traders acquired 1,992 call options on the company. This is an increase of 308% compared to the typical volume of 488 call options.
Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts expect that Crown Castle International Corp. will post $4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, September 17th.
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, 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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