Brokerages predict that Crown Castle International Corporation (NYSE:CCI) will report sales of $1.07 billion for the current quarter, Zacks reports. Eight analysts have made estimates for Crown Castle International Corporation’s earnings. The highest sales estimate is $1.09 billion and the lowest is $1.06 billion. Crown Castle International Corporation reported sales of $992.02 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The company is scheduled to announce its next earnings results on Thursday, October 19th.

On average, analysts expect that Crown Castle International Corporation will report full-year sales of $1.07 billion for the current fiscal year, with estimates ranging from $4.18 billion to $4.27 billion. For the next financial year, analysts forecast that the firm will report sales of $4.49 billion per share, with estimates ranging from $4.46 billion to $4.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Crown Castle International Corporation.

Crown Castle International Corporation (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis.

CCI has been the topic of several recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $107.00 target price on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Citigroup Inc. raised their target price on Crown Castle International Corporation from $96.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Bank of America Corporation raised their target price on Crown Castle International Corporation from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, September 8th. BidaskClub upgraded Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Crown Castle International Corporation in a report on Monday, June 12th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $106.45.

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In related news, Director J Landis Martin acquired 30,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the completion of the acquisition, the director now owns 99,335 shares of the company’s stock, valued at $9,997,074.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Crown Castle International Corporation by 3.8% during the second quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock valued at $2,441,666,000 after purchasing an additional 891,908 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Crown Castle International Corporation by 4.2% in the 2nd quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock worth $2,429,841,000 after acquiring an additional 975,757 shares in the last quarter. Capital World Investors boosted its holdings in shares of Crown Castle International Corporation by 12.6% in the 2nd quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock worth $2,317,446,000 after acquiring an additional 2,584,490 shares in the last quarter. State Street Corp boosted its holdings in shares of Crown Castle International Corporation by 1.0% in the 1st quarter. State Street Corp now owns 14,766,574 shares of the real estate investment trust’s stock worth $1,394,708,000 after acquiring an additional 147,313 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of Crown Castle International Corporation by 10.4% in the 2nd quarter. Capital International Investors now owns 8,445,600 shares of the real estate investment trust’s stock worth $846,080,000 after acquiring an additional 793,400 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

Shares of Crown Castle International Corporation (NYSE CCI) opened at 104.81 on Friday. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 83.65 and a beta of 0.18. The stock has a 50 day moving average price of $104.13 and a 200-day moving average price of $98.69.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, September 14th. Crown Castle International Corporation’s payout ratio is 304.00%.

About Crown Castle International Corporation

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

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Earnings History and Estimates for Crown Castle International Corporation (NYSE:CCI)

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