Crown Castle International (NYSE:CCI) Raised to Buy at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell


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Crown Castle International (NYSE:CCI) was upgraded by analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Briefing.com reports. The firm currently has a $170.00 price target on the real estate investment trust’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s target price points to a potential upside of 11.34% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Raymond James raised shares of Crown Castle International from a “market perform” rating to an “outperform” rating and set a $172.00 price target on the stock in a research report on Monday, October 26th. Credit Suisse Group lowered their price target on shares of Crown Castle International from $148.00 to $146.00 and set a “neutral” rating on the stock in a research report on Friday, October 23rd. Wells Fargo & Company upped their target price on shares of Crown Castle International from $170.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft raised shares of Crown Castle International from a “hold” rating to a “buy” rating and upped their target price for the company from $177.00 to $180.00 in a research report on Friday, December 11th. Finally, BidaskClub cut shares of Crown Castle International from a “hold” rating to a “sell” rating in a research report on Saturday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Crown Castle International currently has an average rating of “Buy” and a consensus target price of $174.82.

Shares of CCI stock opened at $152.69 on Thursday. The company’s 50-day moving average price is $158.05 and its 200-day moving average price is $163.07. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.02. The stock has a market cap of $65.85 billion, a price-to-earnings ratio of 95.43, a PEG ratio of 1.15 and a beta of 0.30. Crown Castle International has a twelve month low of $114.18 and a twelve month high of $180.00.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($1.09). Crown Castle International had a net margin of 13.09% and a return on equity of 7.57%. During the same quarter last year, the firm posted $0.58 EPS. As a group, equities research analysts predict that Crown Castle International will post 5.76 EPS for the current year.

In other news, COO James D. Young sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $164.32, for a total value of $985,920.00. Following the completion of the sale, the chief operating officer now directly owns 186,679 shares of the company’s stock, valued at $30,675,093.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Landis Martin acquired 6,250 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was purchased at an average cost of $161.22 per share, with a total value of $1,007,625.00. Following the completion of the acquisition, the director now directly owns 139,543 shares of the company’s stock, valued at approximately $22,497,122.46. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Crown Castle International by 2,213.6% in the first quarter. BlackRock Inc. now owns 23,279,013 shares of the real estate investment trust’s stock worth $2,198,702,000 after acquiring an additional 22,272,827 shares in the last quarter. Jennison Associates LLC raised its position in Crown Castle International by 762.8% in the second quarter. Jennison Associates LLC now owns 7,806,109 shares of the real estate investment trust’s stock worth $782,016,000 after acquiring an additional 6,901,353 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Crown Castle International by 2,414.4% in the second quarter. Janus Henderson Group PLC now owns 5,554,608 shares of the real estate investment trust’s stock valued at $556,464,000 after buying an additional 5,333,700 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Crown Castle International by 10,630.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,899,104 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 4,853,447 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Crown Castle International in the fourth quarter valued at $537,278,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.

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Analyst Recommendations for Crown Castle International (NYSE:CCI)

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