Crown Castle (CCI) – Weekly analyst ratings updates

Crown Castle (NYSE: CCI) recently received a number of rating updates from brokers and research firms:

• Apr 19, 2024 – Crown Castle’s price target has been lowered by analysts at Bank of America Co. reduced from $120.00 to $105.00. They now have a “neutral” rating on the stock.
• Apr 19, 2024 – Crown Castle has been downgraded from a “buy” rating to a “hold” rating by analysts at Argus.
• 04-19-2024 – Crown Castle’s price target has been lowered from $115.00 to $100.00 by analysts at Wells Fargo & Company. They now have an equalweight rating on the stock.
• 04-18-2024 – Crown Castle’s price target has been lowered from $133.00 to $118.00 by Scotiabank analysts. They now have a ‘sector perform’ rating on the stock.
• Apr 18, 2024 – Crown Castle’s price target has been lowered from $110.00 to $105.00 by analysts at BMO Capital Markets. They now have a ‘market perform’ rating on the stock.
• Apr 18, 2024 – Crown Castle’s price target has been revised by analysts at Jefferies Financial Group Inc. reduced from $126.00 to $123.00. They now have a buy rating on the stock.

Crown Castle Stock Performance

Shares of Crown Castle opened at $95.20 on Monday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The stock has a fifty-day moving average of $104.88 and a two-hundred-day moving average of $105.33. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $131.43. The company has a market cap of $41.37 billion, a price-to-earnings ratio of 29.75, a price-to-earnings ratio of 2.54, and a beta of 0.73.

Crown Castle (NYSE:CCI – Get Free Report) last reported its earnings results on Wednesday, April 17. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. In the same quarter last year, the company posted earnings per share of $1.91. The company’s quarterly revenue fell 7.4% compared to the same quarter last year. As a group, analysts expect Crown Castle Inc. will post a profit per share of 6.59 for the current financial year.

Crown Castle dividend announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28. Well-known investors on Friday, March 15 received a dividend of $1,565. This represents a dividend of $6.26 annually and a yield of 6.58%. The ex-dividend date was Thursday, March 14. Crown Castle’s dividend payout ratio is 195.63%.

Hedge funds weigh heavily on Crown Castle

Hedge funds have recently increased or decreased their stakes in the company. Moors & Cabot Inc. increased its stake in Crown Castle by 3.4% in the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust worth $505,000 after purchasing an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Crown Castle by 33.4% during the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust worth $730,000 after purchasing an additional 991 shares in the last quarter. Loomis Sayles & Co. LP increased its stake in Crown Castle by 4,497.6% during the first quarter. Loomis Sayles & Co. LP now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after purchasing an additional 5,577 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Crown Castle by 12.3% during the first quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust worth $886,000, after purchasing an additional 525 shares in the last quarter. Finally, Covestor Ltd increased its stake in Crown Castle by 205.9% in the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust worth $162,000 after purchasing an additional 591 shares in the last quarter. Institutional investors own 90.77% of the company’s shares.

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber to support small cell and fiber solutions in every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless services, bringing information, ideas and innovations to the people and businesses who need them.

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