Crown Castle (NYSE:CCI) PT Lowered to $105.00

Crown Castle (NYSE:CCI) had its price target cut by stock analysts at Bank of America from $120.00 to $105.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Bank of America‘s target price suggests a potential upside of 10.29% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of 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 upped their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday. Finally, Scotiabank dropped their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target of $117.73.

Crown Castle Stock Performance

NYSE:CCI opened at $95.20 on Friday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The company has a fifty day moving average of $104.88 and a two-hundred day moving average of $105.22. The stock has a market capitalization of $41.37 billion, a PE ratio of 29.75, a P/E/G ratio of 2.51 and a beta of 0.73. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $131.43.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. As a group, research analysts forecast that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds have recently modified their holdings of CCI. Morgan Stanley boosted its stake in Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after buying an additional 1,064,382 shares during the period. FMR LLC boosted its stake in Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after buying an additional 1,496,330 shares during the period. Cohen & Steers Inc. boosted its stake in Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after buying an additional 834,198 shares during the period. Wellington Management Group LLP boosted its stake in Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after buying an additional 1,126,394 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Crown Castle by 1.3% during the first quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock worth $1,208,030,000 after buying an additional 118,306 shares during the period. 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.