Scotiabank Lowers Crown Castle (NYSE:CCI) Price Target to $118.00

Crown Castle (NYSE:CCI) had its price target dropped by stock analysts at Scotiabank from $133.00 to $118.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 23.87% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets dropped their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.73.

Crown Castle Trading Up 0.9 %

CCI stock opened at $95.26 on Thursday. The company has a market cap of $41.39 billion, a P/E ratio of 29.77, a PEG ratio of 2.51 and a beta of 0.73. Crown Castle has a twelve month low of $84.72 and a twelve month high of $131.43. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The business has a fifty day moving average of $104.88 and a 200-day moving average of $105.10.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 EPS. As a group, equities research analysts expect that Crown Castle will post 6.59 EPS for the current year.

Institutional Investors Weigh In On Crown Castle

Several large investors have recently modified their holdings of CCI. Riverview Trust Co increased its holdings in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Crown Castle in the fourth quarter worth about $25,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle in the third quarter worth about $28,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Crown Castle during the second quarter worth about $29,000. Finally, Operose Advisors LLC acquired a new position in shares of Crown Castle during the third quarter worth about $30,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.