Morgan Stanley Trims Crown Castle International (NYSE:CCI) Target Price to $200.00

Posted by on Jun 7th, 2022

Crown Castle International (NYSE:CCI – Get Rating) had its price target lowered by analysts at Morgan Stanley from $215.00 to $200.00 in a report issued on Tuesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price indicates a potential upside of 9.20% from the stock’s previous close.

A number of other research analysts have also weighed in on CCI. Raymond James raised their price objective on Crown Castle International from $184.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. StockNews.com began coverage on Crown Castle International in a research note on Thursday, March 31st. They issued a “buy” rating for the company. KeyCorp raised their target price on Crown Castle International from $202.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Credit Suisse Group raised their target price on Crown Castle International from $204.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Finally, Barclays cut their target price on Crown Castle International from €222.00 ($238.71) to €214.00 ($230.11) in a research note on Friday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $202.71.

Shares of NYSE:CCI traded down $1.63 during midday trading on Tuesday, reaching $183.15. 12,383 shares of the company’s stock traded hands, compared to its average volume of 1,578,791. Crown Castle International has a 1 year low of $157.16 and a 1 year high of $209.87. The company has a market cap of $79.31 billion, a P/E ratio of 54.33 and a beta of 0.53. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day simple moving average of $186.94 and a two-hundred day simple moving average of $184.32.

Crown Castle International (NYSE:CCI – Get Rating) last announced its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Crown Castle International had a return on equity of 17.40% and a net margin of 22.12%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm posted $1.71 EPS. The business’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Crown Castle International will post 7.06 EPS for the current fiscal year.

In other Crown Castle International news, VP Robert Sean Collins sold 1,000 shares of Crown Castle International stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $185.44, for a total value of $185,440.00. Following the completion of the transaction, the vice president now directly owns 10,082 shares of the company’s stock, valued at approximately $1,869,606.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Joseph Kavanagh sold 5,000 shares of Crown Castle International stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $191.02, for a total value of $955,100.00. Following the completion of the transaction, the executive vice president now directly owns 73,670 shares of the company’s stock, valued at $14,072,443.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock valued at $3,702,255 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Crown Castle International by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock valued at $10,505,466,000 after buying an additional 1,015,352 shares during the period. BlackRock Inc. boosted its stake in shares of Crown Castle International by 15.3% in the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock valued at $7,725,650,000 after buying an additional 4,919,828 shares during the period. State Street Corp boosted its stake in shares of Crown Castle International by 6.4% in the 1st quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock valued at $3,862,864,000 after buying an additional 1,261,426 shares during the period. Capital International Investors boosted its stake in shares of Crown Castle International by 1.3% in the 1st quarter. Capital International Investors now owns 17,940,782 shares of the real estate investment trust’s stock valued at $3,311,853,000 after buying an additional 231,430 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Crown Castle International by 9.9% in the 2nd quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock valued at $1,860,558,000 after buying an additional 856,986 shares during the period. 91.28% of the stock is owned by institutional investors.

Crown Castle International Company Profile (Get Rating)

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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