Crown Castle International Corp.’s Equal Weight Rating Reiterated at Barclays (CCI)
Crown Castle International Corp. (NYSE:CCI)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays in a research note issued to investors on Wednesday. They currently have a $85.00 target price on the stock, up from their previous target price of $83.00. Barclays’ price objective indicates a potential upside of 6.82% from the company’s current price.
A number of other firms have also recently commented on CCI. Analysts at Zacks downgraded shares of Crown Castle International Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, August 22nd. They now have a $73.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $86.27.
Crown Castle International Corp. (NYSE:CCI) traded up 0.30% during mid-day trading on Wednesday, hitting $79.81. The stock had a trading volume of 151,068 shares. Crown Castle International Corp. has a one year low of $68.44 and a one year high of $80.52. The stock has a 50-day moving average of $75.91 and a 200-day moving average of $75.07. The company has a market cap of $26.524 billion and a P/E ratio of 205.61.
Crown Castle International Corp. (NYSE:CCI) last released its earnings data 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. On average, analysts predict that Crown Castle International Corp. will post $4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders 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 1.76%. 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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