CROWN CASTLE IN/SH SH (NYSE:CCI) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.99-6.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.07. CROWN CASTLE IN/SH SH also updated its FY 2019 guidance to $5.89-5.97 EPS.
Several equities research analysts have recently issued reports on the stock. Guggenheim set a $148.00 price target on shares of CROWN CASTLE IN/SH SH and gave the stock a hold rating in a research note on Thursday, September 12th. Citigroup decreased their price target on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a neutral rating for the company in a research note on Monday, September 9th. Bank of America restated a buy rating and set a $151.00 price target (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. Morgan Stanley raised their price target on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an overweight rating in a research note on Thursday, September 19th. Finally, SunTrust Banks raised their price target on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a buy rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $135.58.
CROWN CASTLE IN/SH SH stock traded down $1.10 during mid-day trading on Friday, reaching $130.81. The company’s stock had a trading volume of 2,231,595 shares, compared to its average volume of 1,876,144. The firm’s fifty day moving average price is $138.49 and its two-hundred day moving average price is $134.97. The company has a market capitalization of $54.74 billion, a P/E ratio of 23.87, a PEG ratio of 1.49 and a beta of 0.28. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.76 and a current ratio of 0.72. CROWN CASTLE IN/SH SH has a 12-month low of $103.21 and a 12-month high of $149.47.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. On average, research analysts predict that CROWN CASTLE IN/SH SH will post 5.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.20 per share. This is a positive change from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.
In other news, COO Robert Carl Ackerman sold 10,500 shares of CROWN CASTLE IN/SH SH stock in a transaction on Monday, October 21st. The shares were sold at an average price of $143.43, for a total transaction of $1,506,015.00. Following the completion of the sale, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at approximately $1,119,614.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction on Friday, August 16th. The stock was sold at an average price of $143.34, for a total transaction of $143,340.00. Following the sale, the vice president now directly owns 616 shares of the company’s stock, valued at $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.
About CROWN CASTLE IN/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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