Wall Street brokerages predict that Crown Castle International Corporation (NYSE:CCI) will report sales of $1.07 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Crown Castle International Corporation’s earnings, with the lowest sales estimate coming in at $1.06 billion and the highest estimate coming in at $1.08 billion. Crown Castle International Corporation reported sales of $992.02 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is scheduled to report its next quarterly 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 $4.19 billion to $4.23 billion. For the next financial year, analysts expect that the business will report sales of $4.49 billion per share, with estimates ranging from $4.46 billion to $4.51 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Crown Castle International Corporation.

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

CCI has been the topic of several analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Citigroup Inc. increased their price objective on shares of Crown Castle International Corporation from $96.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, August 28th. Bank of America Corporation lifted their target price on shares of Crown Castle International Corporation from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. BidaskClub raised shares of Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, September 20th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $107.50.

Shares of Crown Castle International Corporation (NYSE:CCI) traded up 2.25% during midday trading on Wednesday, hitting $101.89. The stock had a trading volume of 2,047,521 shares. Crown Castle International Corporation has a 52 week low of $79.38 and a 52 week high of $108.88. The stock has a 50-day moving average of $104.21 and a 200 day moving average of $99.74. The stock has a market cap of $41.39 billion, a PE ratio of 81.32 and a beta of 0.16.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.73%. Crown Castle International Corporation’s dividend payout ratio (DPR) is presently 304.00%.

In other news, Director J Landis Martin acquired 30,000 shares of Crown Castle International Corporation stock in a transaction on Friday, July 28th. The stock was acquired 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 in the company, valued at $9,997,074.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Motco boosted its position in Crown Castle International Corporation by 127.0% during the second quarter. Motco now owns 82,855 shares of the real estate investment trust’s stock worth $8,301,000 after purchasing an additional 46,351 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Crown Castle International Corporation by 25.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,616 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,146 shares during the period. Eaton Vance Management raised its position in shares of Crown Castle International Corporation by 10.5% in the second quarter. Eaton Vance Management now owns 133,210 shares of the real estate investment trust’s stock valued at $13,345,000 after purchasing an additional 12,662 shares during the period. Perigon Wealth Management LLC raised its position in shares of Crown Castle International Corporation by 205.3% in the first quarter. Perigon Wealth Management LLC now owns 2,357 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 1,585 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Crown Castle International Corporation by 8.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 45,674 shares of the real estate investment trust’s stock valued at $4,576,000 after purchasing an additional 3,491 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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Crown Castle International Corporation Company Profile

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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