Wells Fargo & Company Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its target price cut by analysts at Wells Fargo & Company from $115.00 to $105.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 18.98% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 8th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. KeyCorp dropped their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Barclays reiterated an “equal weight” rating and issued a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $111.35.

Crown Castle Trading Up 0.4%

NYSE CCI opened at $88.25 on Tuesday. The company has a market cap of $38.43 billion, a P/E ratio of -8.30, a PEG ratio of 0.65 and a beta of 0.94. The company has a fifty day simple moving average of $92.32 and a 200 day simple moving average of $97.70. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm earned $1.84 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Sell-side analysts predict that Crown Castle will post 6.67 EPS for the current year.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Crown Castle

A number of large investors have recently added to or reduced their stakes in the stock. Winnow Wealth LLC bought a new position in shares of Crown Castle during the 2nd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle in the 2nd quarter worth approximately $27,000. Rise Advisors LLC purchased a new position in Crown Castle in the first quarter valued at approximately $28,000. NewSquare Capital LLC grew its holdings in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Finally, LRI Investments LLC bought a new position in Crown Castle during the third quarter valued at $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

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.