Traders Purchase High Volume of Crown Castle International Corp. Call Options (CCI)
Crown Castle International Corp. (NYSE:CCI) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,992 call options on the stock, Stock Ratings News reports. This is an increase of approximately 308% compared to the average volume of 488 call options.
In other Crown Castle International Corp. news, COO James D. Young sold 8,665 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $77.58, for a total value of $672,230.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CCI shares. 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $87.89.
Crown Castle International Corp. (NYSE:CCI) traded up 0.17% during mid-day trading on Wednesday, hitting $77.65. 2,200,596 shares of the company’s stock traded hands. Crown Castle International Corp. has a 52-week low of $66.89 and a 52-week high of $78.56. The stock’s 50-day moving average is $74.71 and its 200-day moving average is $74.48. The company has a market cap of $25.806 billion and a P/E ratio of 200.31.
Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters 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 prior 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.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.81%. The ex-dividend date 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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