Barclays Raises Crown Castle International (CCI) Price Target to $110.00

Crown Castle International (NYSE:CCI) had its price target raised by equities research analysts at Barclays from $107.00 to $110.00 in a report released on Tuesday. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays’ target price points to a potential upside of 3.75% from the stock’s current price.

CCI has been the topic of a number of other reports. Goldman Sachs cut Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. Guggenheim restated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a research note on Friday, January 26th. Deutsche Bank restated a “buy” rating and issued a $120.00 price objective on shares of Crown Castle International in a research note on Monday, January 22nd. Zacks Investment Research cut Crown Castle International from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Finally, ValuEngine upgraded Crown Castle International from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $114.17.

How to Become a New Pot Stock Millionaire

NYSE:CCI traded up $1.69 during trading hours on Tuesday, hitting $106.02. 1,449,322 shares of the company traded hands, compared to its average volume of 2,925,865. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.30. Crown Castle International has a one year low of $93.14 and a one year high of $114.97. The stock has a market cap of $42,220.69, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.27 and a beta of 0.29.

Crown Castle International (NYSE:CCI) last issued its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.84). Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $1.10 earnings per share. Crown Castle International’s revenue was up 20.0% on a year-over-year basis. sell-side analysts forecast that Crown Castle International will post 5.26 earnings per share for the current fiscal year.

In other news, insider Jay A. Brown sold 18,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares of the company’s stock, valued at $17,622,694.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Jay Simon sold 693 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $108.79, for a total value of $75,391.47. Following the transaction, the senior vice president now directly owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in CCI. Alliancebernstein L.P. lifted its position in Crown Castle International by 22.7% in the 4th quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock worth $804,586,000 after buying an additional 1,338,562 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Crown Castle International by 296.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,296,485 shares of the real estate investment trust’s stock valued at $141,938,000 after purchasing an additional 969,591 shares during the last quarter. Magellan Asset Management Ltd lifted its position in Crown Castle International by 5.4% in the fourth quarter. Magellan Asset Management Ltd now owns 12,647,428 shares of the real estate investment trust’s stock valued at $1,403,991,000 after purchasing an additional 653,226 shares during the last quarter. Renaissance Technologies LLC lifted its position in Crown Castle International by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,395,800 shares of the real estate investment trust’s stock valued at $598,988,000 after purchasing an additional 481,800 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in Crown Castle International in the fourth quarter valued at approximately $45,218,000. Institutional investors own 93.59% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was published by Week Herald and is the property of of Week Herald. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://weekherald.com/2018/04/17/barclays-raises-crown-castle-international-cci-price-target-to-110-00.html.

Crown Castle International Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.

Analyst Recommendations for Crown Castle International (NYSE:CCI)

Receive News & Ratings for Crown Castle International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply